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Posted: February 16th, 2020

Schedule of Cost of Goods Manufactured for Graffstone Company

1) Use the following information to prepare the schedule of cost of goods manufactured for Graffstone Company for the month e

 

 

1) Use the following information to prepare the schedule of cost of goods manufactured for Graffstone Company for the month ended June 30. |$12,600 16,500 21,000 31,000 Work in Process inventory, May 31 Work in Process inventory, June 30 Direct materials used during June Direct labor used during June Factory overhead: Indirect material Indirect labor Factory rent Factory depreciation Factory utilities 6,400 9,200 12,000 15,000 18,400 2) Prepare journal entries to record the following transactions and events for April using a job order co system. (a) Purchased raw materials on credit, $69,000. (b) Raw materials requisitioned: $26,000 direct and $5,400 indirect. (c) Factory payroll totaled $46,000, including $9,500 indirect labor. (d) Paid other actual overhead costs totaling $14,500 cash. (e) Applied overhead totaling $28,200. (f) Finished and transferred jobs totaling $77,500. (g) Jobs costing $58,800 were sold on credit for $103,000.

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