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Company makes products for sporting events

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Reference no: EM13913934

Williams Brothers Company makes products for sporting events. The following data are for the year ended December 31, 2013:

Manufacturing overhead     $195,000

Finished goods inventory, Jan 1, 2013 $120,000

Finished goods inventory, Dec 31, 2013 $210,000

Materials inventory, Jan 1, 2013 $67,500

Materials inventory, Dec 31, 2013 $97,500

Materials purchases $262,500

Direct labor    $337,500

Work in process inventory, Jan 1, 2013 $45,000

Work in process inventory, Dec 31, 2013 $60,000

Requirements:

a. Prepare a cost of goods manufactured statement.

b. Compute the cost of goods sold as of December 31, 2013.

 

Reference no: EM13913934

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