Plan a cost of goods manufactured schedule

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Reference no: EM132803861

Question - The following data were taken from the records of Lily Company for the fiscal year ended June 30, 2020.

Raw Materials Inventory 7/1/19 $55,300

Factory Insurance $5,100

Raw Materials Inventory 6/30/20 43,200

Factory Machinery Depreciation 17,800

Finished Goods Inventory 7/1/19 98,300

Factory Utilities 31,700

Finished Goods Inventory 6/30/20 20,800

Office Utilities Expense 9,250

Work in Process Inventory 7/1/19 25,900

Sales Revenue 563,200

Work in Process Inventory 6/30/20 21,100

Sales Discounts 4,500

Direct Labor 142,050

Plant Manager's Salary 64,200

Indirect Labor 24,660

Factory Property Taxes 9,910

Accounts Receivable 36,900

Factory Repairs 1,900

Raw Materials Purchases 98,000

Cash 40,800

Required - Plan a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.)

Reference no: EM132803861

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