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Calculate Cost of Goods Manufactured and prepare a schedule to support your calculations based upon the following information for Example Manufacturing, Inc. for January 2012. (See slide 13 of S-V for an example of a schedule):
Depreciation on retail store equipment
$ 2500
Depreciation on factory equipment
4,000
Direct labor used
58,000
Direct materials used
40,000
Factory maintenance
4,800
Finished goods balance, January 1
1,600
Finished goods balance, January 31
1,400
Indirect materials used
President's salary
8,000
Rent on the factory building
1,200
Sales commissions
3,200
Utilities for factory activities
550
Work in Process balance January 1
5,000
Work in Process balance January 31
4,600
What amount can be reported as the noncontrolling interest in the consolidated balance sheet on January 1, 20X9?
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