14 Jan Calculate Cost of Goods Manufactured and prepare a
Calculate Cost of Goods Manufactured and prepare a schedule to support your calculations based upon the following information for Example Manufacturing, Inc. for January 2017. (See slide 13 of S-V for an example of a schedule). Remember that not all of the below items appear on the Cost of Goods Manufactured schedule.Depreciation on salespersons’ vehicles$ 2,000Depreciation on factory equipment10,000Direct labor used60,000Direct materials used55,000Factory maintenance6,500Finished goods balance, January 129,000Finished goods balance, January 3132,000Wages for factory janitor3,500President’s salary12,500Rent on the factory building4,000Sales commissions9,500Utilities for factory activities3,900Work in Process balance January 165,000Work in Process balance January 3167,500Factory supervisor’s salary for January10,000Salespersons’ salaries for January17,000Advertising expense for January3,000Insurance expense for factory building for January1,600
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