Bledsoe corporation has provided the following data for the month of november: beginning ending raw materials $ 26,400 $ 22,400 work in process $ 18,400 $ 11,400 finished goods $ 49,400 $ 57,400 additional information: raw materials purchases $ 73,400 direct labor cost $ 93,400 manufacturing overhead cost incurred $ 43,540 indirect materials included in manufacturing overhead cost incurred $ 4,140 manufacturing overhead cost applied to work in process $ 42,400 any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. required: prepare a schedule of cost of goods manufactured and a schedule of cost of goods sold.

Instructions are listed below

Explanation:

Giving the following information:

Beginning Raw materials $26,400

Ending Raw materials $22,400

Beginning Work in process $ 18,400

Ending Work in process $ 11,400

Beginning Finished Goods $ 49,400

Ending Finished Goods $ 57,400

Additional information:

Raw materials purchases $ 73,400

Direct labor cost $ 93,400

Manufacturing overhead cost incurred $ 43,540

Indirect materials included in manufacturing overhead cost incurred $ 4,140

Manufacturing overhead cost applied to Work in Process $ 42,400

A) Cost of goods manufactured:

Beginning Work in process $ 18,400

Beginning Raw materials $26,400

Raw materials purchases $ 73,400

Ending Raw materials $22,400 (-)

Direct labor cost $ 93,400  

Manufacturing overhead cost applied $ 42,400

Ending Work in process $ 11,400 (-)

Total= $220,200

B) Cost of goods sold:

Beginning Finished Goods $ 49,400

Cost of goods manufactured $220,200

Ending Finished Goods $ 57,400 (-)

Unadjusted COGS= $212,200

Underapplied MOH= 1140

Adjusted COGS= $213,340

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