Hunsicker Corporation has provided the following

Hunsicker Corporation has provided the following data for the month of January.

Inventories                   Beginning                   Ending

Raw materials              $30,000                       $33,000

Work in process           $20,000                       $18,000

Finished goods             $52,000                       $50,000

Additional Information

Raw material purchases                                                                                               $63,000

Direct labor costs                                                                                             $92,000

Manufacturing overhead cost incurred                                                                        $75,000

Indirect materials included in manufacturing overhead costs incurred             $6,000

Manufacturing overhead cost applied to work in process                                            $72,000 

Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold in good form. 

TUTORIAL PREVIEW

1.	Cost of Goods Manufactured
	Direct materials:
	Raw materials inventory, beginning	$30,000
	Add: Purchases of raw materials	63,000

 

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