Martinez Manufacturing Co.
vianmondokan (Not rated)
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Following data was taken from the general ledger and other records of Martinez Manufacturing Co. at July 31, the end of the first month of operations in the current fiscal year:
Sales | $50,000 |
Materials inventory (July 1) | 15,000 |
Work in process inventory (July 1) | 20,000 |
Finished goods inventory (July 1) | 28,000 |
Materials purchased | 21,000 |
Direct labor cost | 12,500 |
Factory overhead (including $5,000 of indirect materials used and $2,500 of indirect labor cost) |
11,500 |
Selling and administrative expense | 8,000 |
Inventories at July 31: |
|
Materials | 16,000 |
Work in process | 18,000 |
Finished goods | 30,000 |
a. | Prepare a statement of cost of goods manufactured. |
b. | Determine the cost of goods sold for the month. |
10 years ago
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martinez.docx
