Reference no: EM132791243
Question - The following information is taken from the records of Britton Company for March:
Purchases:
Direct materials $9,000,000
Indirect materials 200,000
Office supplies 420,000
Sales 36,000,000
Salaries and Benefits:
Selling and administrative 4,000,000
Direct manufacturing labour 6,000,000
Rent* 4,000,000
Utilities* 1,200,000
Advertising 700,000
Inventories:
March 1 March 31
Direct materials $4,400,000 $1,600,000
Indirect materials 500,000 600,000
Office supplies 150,000 180,000
Finished goods 24,000,000 16,000,000
* Of these costs, 60 percent are assigned to manufacturing and 40 percent to selling and administration.
Required - Prepare a schedule cost of goods manufactured and sold.