ACCOUNTING- E1-9 Molina Company Cost of Goods Manufactured Schedule

Name

Exercises 1-9

Section

Date

E1-9

Molina Company

Cost of Goods Manufactured Schedule

For the Year Ended December 31, 2014

1
Work in process (1/1)

$210,000
1

2
Direct materials:

2

3
Raw materials inventory (1/1)

3

4
Add: Raw materials purchases

158,000

4

5
Total raw materials available for use

5

6
Less: Raw materials inventory (12/31)
22,500

6

7
Direct materials used

$180,000

7

8
Direct labor

8

9
Manufacturing overhead:

9

10
Indirect labor

18,000

10

11
Factory depreciation

36,000

11

12
Factory utilities

68,000

12

13
Total overhead

122,000

13

14
Total manufacturing costs

14

15
Total cost of work in
process

15

16
Less: Work in process
(12/31)

81,000
16

17
Cost of goods
manufactured

$530,000
17