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Dreams Manufacturing,Inc Required: Prepare a Statement of the Cost of Goods Manufactured

Question 191

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Dreams Manufacturing,Inc.provided the following information for the year:
 Purchases-Raw Materials $270,000 Plant Utilities and Insurance 202,500 Indirect Materials 35,250 Indirect Labor 14,250 Ending Balance - Work-in-Process Inventory 42,000 Ending Balance - Raw Materials Inventory 45,000 Direct Labor 352,500 Depreciation on Factory Plant and Equipment 18,000 Beginning Balance - Work-in-Process Inventory 18,000 Beginning Balance - Raw Materials Inventory 63,000\begin{array} { |l | r | } \hline \text { Purchases-Raw Materials } & \$ 270,000 \\\hline \text { Plant Utilities and Insurance } & 202,500 \\\hline \text { Indirect Materials } & 35,250 \\\hline \text { Indirect Labor } & 14,250 \\\hline \text { Ending Balance - Work-in-Process Inventory } & 42,000\\\hline \text { Ending Balance - Raw Materials Inventory } &45,000 \\\hline \text { Direct Labor } & 352,500 \\\hline \text { Depreciation on Factory Plant and Equipment } &18,000 \\\hline \text { Beginning Balance - Work-in-Process Inventory } &18,000 \\\hline \text { Beginning Balance - Raw Materials Inventory } & 63,000 \\\hline\end{array} Required: Prepare a statement of the cost of goods manufactured using the following format:
 Dreams Manufacturing,Inc.provided the following information for the year:   \begin{array} { |l | r | }  \hline \text { Purchases-Raw Materials } & \$ 270,000 \\ \hline \text { Plant Utilities and Insurance } & 202,500 \\ \hline \text { Indirect Materials } & 35,250 \\ \hline \text { Indirect Labor } & 14,250 \\ \hline \text { Ending Balance - Work-in-Process Inventory } & 42,000\\ \hline \text { Ending Balance - Raw Materials Inventory } &45,000   \\ \hline \text { Direct Labor } & 352,500 \\ \hline \text { Depreciation on Factory Plant and Equipment } &18,000  \\ \hline \text { Beginning Balance - Work-in-Process Inventory } &18,000 \\ \hline \text { Beginning Balance - Raw Materials Inventory } & 63,000  \\ \hline \end{array}  Required: Prepare a statement of the cost of goods manufactured using the following format:

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