Scribd Logo
Upload

Welcome to Scribd!

  • 12 views

    Problem 1-17 - Garcia - BSA302

    Uploaded by

    John Garcia
    Jenny Incorporated incurred $1,040,000 in costs to manufacture goods during May 2018. This included $548,000 for direct materials, $260,000 for direct labor, and $212,000 for manufacturing overhead expenses like indirect labor, property taxes, depreciation, and insurance. With $150,000 of work in process carried over from the previous period and $130,000 remaining at the end of May, Jenny's cost of goods manufactured was $1,040,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Problem 1-17 - Garcia - BSA302

    Uploaded by

    John Garcia
    12 views1 page
    Jenny Incorporated incurred $1,040,000 in costs to manufacture goods during May 2018. This included $548,000 for direct materials, $260,000 for direct labor, and $212,000 for manufacturing overhead expenses like indirect labor, property taxes, depreciation, and insurance. With $150,000 of work in process carried over from the previous period and $130,000 remaining at the end of May, Jenny's cost of goods manufactured was $1,040,000.

    Original Title

    Problem 1-17_Garcia_BSA302.xlsx

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Jenny Incorporated incurred $1,040,000 in costs to manufacture goods during May 2018. This included $548,000 for direct materials, $260,000 for direct labor, and $212,000 for manufacturing overhead expenses like indirect labor, property taxes, depreciation, and insurance. With $150,000 of work in process carried over from the previous period and $130,000 remaining at the end of May, Jenny's cost of goods manufactured was $1,040,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    12 views1 page

    Problem 1-17 - Garcia - BSA302

    Uploaded by

    John Garcia
    Jenny Incorporated incurred $1,040,000 in costs to manufacture goods during May 2018. This included $548,000 for direct materials, $260,000 for direct labor, and $212,000 for manufacturing overhead expenses like indirect labor, property taxes, depreciation, and insurance. With $150,000 of work in process carried over from the previous period and $130,000 remaining at the end of May, Jenny's cost of goods manufactured was $1,040,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 1

    Garcia, John Ray Lorenz J.

    BSA302

    Jenny Incorporated
    Statement of Cost of Goods Manufactured
    Month ended May 31, 2018

    Direct Materials Used:


    Direct Materials, Beginning 28,000.00
    Add: Purchases of Direct Materials 543,000.00
    Less: Direct Materials, End (23,000.00) 571,000.00
    Direct Materials Used 548,000.00
    Direct Labor 260,000.00
    Manufacturing Overhead
    Indirect Factory Labor 90,000.00
    Property Tax 60,000.00
    Depreciation 50,000.00
    Insurance 12,000.00 212,000.00
    total manufacturing cost 1,020,000.00
    Add: Work in process, Beginning 150,000.00
    total cost of goods placed in process 1,170,000.00
    Less: Work in Process, End (130,000.00)
    Cost of goods manufactured 1,040,000.00

    Cost of goods sold


    Finished Goodss inventory, beginning 247,000.00
    Add: Cost of Goods Manufactured 1,040,000.00
    Total Goods Available for Sale 1,287,000.00
    Less: Finished Goods Inventory, end (175,000.00)
    Cost of Goods sold 1,112,000.00

    You might also like