Solution-Prepare a schedule of cost of goods manufactured

Prepare a schedule of cost of goods manufactured

Assignment Help Accounting Basics

Reference no: EM131625012

Question - Preparing a schedule of cost of goods manufactured

Knight Corp., a lamp manufacturer, provided the following information for the year ended December 31, 2014.

Inventories:	Beginning	Ending
Raw Materials	$56,000	$23,000
Work-in-Process	103,000	63,000
Finished Goods	41,000	48,000
Other information
Depreciation, plant building and equipment		$16,000
Raw materials purchases		159,000
Insurance on plant		22,000
Sales Salaries		46,000
Repairs and maintenance- plant		8,000
Indirect labor		32,000
Direct labor		122,000
Administrative expenses		59,000

Requirements -

1. Use the information to prepare a schedule of cost of goods manufactured.

2. What is the unit product cost if Knight manufactured 2,160 lamps for the year?

Reference no: EM131625012

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Prepare a schedule of cost of goods manufactured

Reference no: EM131625012

Reference no: EM131625012

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