Haggan Manufacturing,Inc Required: Prepare a Schedule of the Cost of Goods Manufactured

Essay

Haggan Manufacturing,Inc.provided the following information for the year:
$$\begin{array} { |l | r | } \hline \text { Purchases - Direct Materials } & \$ 270,000 \\\hline \text { Plant Utilities and Insurance } & 202,500 \\\hline \text { Indirect Materials } & 35,250 \\\hline \text { Indirect Labor } & 14,250 \\\hline \text { Ending Balance - Work-in-Process Inventory } &42,000\\\hline \text { Ending Balance - Direct Materials } & 45,000 \\\hline \text { Direct Labor } & 352,500 \\\hline \text { Depreciation on Factory Plant and Equipment } &18,000 \\\hline \text { Beginning Balance - Work-in-Process Inventory } & 18,000\\\hline \text { Beginning Balance - Direct Materials } & 63,000\\\hline\end{array}$$ Required: Prepare a schedule of the cost of goods manufactured using the following format:
$$\begin{array} {| l | l | l | l |} \hline { \text { Srhedule of Cast af Gadds Manufartured } } \\\hline \text { Beginning Work-in-Process Inventory } &\quad\quad &\quad\quad &\quad\quad \\\hline \text { Direct Materials Used: } & & & \\\hline \text { Beginning Direct Materials } & & & \\\hline \text { Purchases of Direct Materials } & & & \\\hline \text { Direct Materials Available for Use } & & & \\\hline \text { Ending Direct Materials } & & & \\\hline \text { Direct Materials Used } & & & \\\hline \text { Direct Labor } & & & \\\hline \text { Manufacturing Overhead: } & & & \\\hline \text { Indirect Materials } & & & \\\hline \text { Indirect Labor } & & & \\\hline \text { Depreciation-Plant and Equipment } & & & \\\hline \text { Plant Utilities and Insurance } & & & \\\hline \text { Total Manufacturing Overhead } & & & \\\hline \text { Total Manufacturing Costs Incurred } & & & \\\text { During the Year } & & & \\\hline \text { Total Manufacturing Costs to Account } & & & \\\hline \text { For } & & & \\\hline \text { Ending Work-in-Process Inventory } & & & \\\hline \text { Cost of Goods Manufactured } & & &\\\hline \end{array}$$