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An incomplete cost of goods manufactured schedule is presented below.

Complete the cost of goods manufactured schedule for Riverbed Company. Assume all raw materials are direct materials.

Work in process (1/1)
$222,600
Direct materials
Raw materials inventory (1/1)
$enter a dollar amount
Add: Raw materials purchases
168,000
Total raw materials available for use
enter a total of the two previous amounts
Less: Raw materials inventory (12/31)
24,500
Direct materials used
$190,800
Direct labor
enter a dollar amount
Manufacturing overhead
Indirect labor
19,600
Factory depreciation
37,900
Factory utilities
72,600
Total overhead
130,100
Total manufacturing costs
enter a total amount for the first part
Total cost of work in process
enter a total amount for all two parts
Less: Work in process (12/31)
85,600
Cost of goods manufactured
$572,400

Sagot :

Anthougoidn

Completing the Cost of Goods Manufactured Schedule for Riverbed Company is as follows:

Cost of Goods Manufactured Schedule

Work in process (1/1)                             $222,600

Direct materials:

Raw materials inventory (1/1)                 $ 47,300

Add: Raw materials purchases              168,000

Total raw materials available for use $215,300

Less: Raw materials inventory (12/31)     24,500

Direct materials used                          $190,800

Direct labor                                          $114,500

Manufacturing overhead:

Indirect labor                 19,600

Factory depreciation   37,900

Factory utilities             72,600

Total overhead                                       130,100

Total manufacturing cost                  $658,000

Total cost of work in process           $658,000

Less: Work in process (12/31)                85,600

Cost of goods manufactured            $572,400

What is the Schedule of Cost of Goods Manufactured?

The Schedule of Cost of Goods Manufactured shows the costs of:

  • Beginning Work in Process
  • Raw materials used
  • Direct labor
  • Overhead
  • Less Ending Work in Process.

Thus, the Schedule of Cost of Goods Manufactured for Riverbed Company shows that the cost of goods manufactured for the period is $572,400.

Learn more about preparing the Schedule of Cost of Goods Manufactured at https://brainly.com/question/24257342

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