Solution-Prepare a schedule of cost of goods manufactured

Prepare a schedule of cost of goods manufactured

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

Questions Cloud

How she eats one meal a day toward the end : Coming from a working middle class area I would say that most of what I have seen read and heard is quite similar to the topics discussed in these videos.

Define theories of recovery available to tom : Early Friday morning, Tom and his team arrive at the address, but by mistake, they begin work on Nancy's side of building

Demonstrate the mastery of the literature : Do you have an introduction telling the reader what the document is about and how it is organized?

Calculate the expected holding period return : Calculate the expected holding period return for an investor who purchases a 7.50% two year bond and plans to sell it after one year.

Prepare a schedule of cost of goods manufactured : Question - Preparing a schedule of cost of goods manufactured. Use the information to prepare a schedule of cost of goods manufactured

How do you think you could have better written the essay : To what extent are you satisfied with the essay you have written? How do you think you could have better written the essay?

Define litigation, adr or criminal prosecution : Adele is a secretary for her company. As part of her responsibilities, she can write checks for the purchase of office supplies

Create a budget with appropriate resource allocation : Identify how much and on what the money will be spent include the lobby area, all four physician offices, and the break area

What are the basic arguments for affirmative action : What is Affirmative Action as a social policy? What were the goals of Affirmative Action? Has it been successful?

User Account

All Pages

Prepare a schedule of cost of goods manufactured

Reference no: EM131625012

Reference no: EM131625012

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

Explain the guidance that you believe is needed

A rush order was accepted by red machine conversions for

The similarities between audit and review engagements

Widget inventory at the end of year using variable costing

Viking company manufactures customized desks the following

Business process management principles

Transactions for buyer and seller

Describing the value of a new accounting system

The jung corporations budget calls for the following

Tax associated with the appreciation

Significant accounting standard related to dhiraagu

Most company has an opportunity to invest in one of two new

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT