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CLUCK HERE TO REVIEW LEARNING OBJECTIVES QUESTION 1 Partially correct Mark 0.20 out of 2.00 Flag question Schedule of Cost of Goods Manufactured and Sold At December 31, 2016, the end of its fiscal year, Lederman Manufacturing Corporation collected the following data for 2016: $25,000 15,000 30,000 Work in process inventory, December 3141,000 51,000 Finished goods inventory, December 31 36,000 Net delivered cost of materials purchased 125,000 148,000 12,000 37,000 10,000 65,000 21,000 62,000 Materials inventory. lanuary 1 Materials inventory, December 31 Work in process inventory, January 1 Finished goods inventory, January 1 Direct labor Indirect material Indirect labor Factory supplies used Factory depreciation Factory repairs and maintenance Selling expenses (total) Non-factory adminstrasive expenses (cotal) 58,000 Prepare a schedule of cost of goods manufactured and sold for Lederman Manufacturing Corporation for the year ended December 31, 2016, assuming that there were no other manufacturing overhead it than those listed above. Do not use negative signs with any of your answers Lederman Manufacturing Corporation Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31, 2016 Direct material: 25,000 Beginning msteriais inventory
Lederman Manufacturing Corporation Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31, 2016 Direct material: 25,000 Beginning materials inventory 10,000X Indirect materials used e x 15,000X Cost of material available o X Less: Ending materials inventory Total materials used Less: Cost of materials purchased Direct materials used Direct labor Manufacturing overhead Indirect material Indirect labor Factory supplies used Factory depreciation Factory repairs and maintenance Total manufacturing overhead Total manufacturing costs for the year Cost of materials purchased Total cost of work in process during the year
Indirect materia Indirect labor Factory supplies used Factory depreciation Factory repairs and maintenance Total manufacturing overhead Total manufacturing costs for the year Add: Cost of materials purchased Total cost of work in process during the year Less: Ending materials inventory Cost of goods manufactured Add: Indirect materials used Cost of goods available for sale # 0 x Less: Ending finished goods inventory Cost of goods sold Check Partially correct Marks for this submission: 0.20/2.00 Next p Save Answers
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