Week_11_ACCT Problems - E1-7,P4-6, E6-7

Exercise 1-7
a.
Valley View Manufacturing Co.
Statement of Cost of Goods Manufactured
For the Month Ended January 31, 20--

Materials:
	Inventory, January 1	$
	Purchases
	Total cost of available materials	$
	Less inventory, January 31
	Cost of materials ued	$
	Less indirect materials used
	Cost of direct materials used in production		$
Direct labor
Factory overhead:
	Indirect materials	$
	Indirect labor
	Other
	Total factory overhead
Total manufacturing cost			$
	Add work in process inventory, January 1
			$
	Less work in process inventory, January 31
Cost of goods manufactured			$


b.
Cost of goods sold:
	Finished goods inventory, January 1	$
	Add costs of goods manufactured
	Goods available for sale	$
	Less finished goods inventory, January 31
	Cost of goods sold	$

Problem 4-6

Schedule for Distribution of Service Department Costs—Direct Method
		Bldg.	Factory
Description		Maint.	Office	Mixing	Blending	Finishing	Total
Total from factory overhead analysis sheets

Allocate building maintenance
based on floor space:
	Mixing
	Blending
	Finishing

Allocate factory office
based on number of employees:
	Mixing
	Blending
	Finishing

Total - direct and apportioned expenses

Exercise 6-7

Cost of production for month:
	Materials
	Labor
	Factory overhead
Total cost to be accounted for
Unit output for month:
	Finished and transferred
	Equivalent units of work in process
		Total
Unit cost for month:
	Materials
	Labor
	Factory overhead
		Total
Inventory costs:
	Cost of goods finished and transferred
	Cost of work in process, end of month:
		Materials
		Labor
		Factory overhead
Total production costs accounted for

Week_11_ACCT Problems - E1-7,P4-6, E6-7 Solution

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