Exercise 177

From the account balances listed below, prepare a schedule of cost of goods manufactured for Sampson Manufacturing Company for the month ended December 31, 2016.

Account Balances

Finished Goods Inventory, December 31

$42,000

Factory Supervisory Salaries

12,000

Income Tax Expense

18,000

Raw Materials Inventory, December 1

12,000

Work In Process Inventory, December 31

15,000

Sales Salaries Expense

14,000

Factory Depreciation Expense

8,000

Finished Goods Inventory, December 1

35,000

Raw Materials Purchases

105,000

Work In Process Inventory, December 1

25,000

Factory Utilities Expense

6,000

Direct Labor

70,000

Raw Materials Inventory, December 31

19,000

Sales Returns and Allowances

5,000

Indirect Labor

21,000

SAMPSON MANUFACTURING   COMPANY
Cost of   Goods Manufactured Schedule
For the   Month Ended December 31, 2016

Indirect   laborFactory utilities expenseRaw materials purchasesRaw materials inventory,   December 31Direct materials usedFactory supervisory salariesFactory   depreciation expenseWork in process, December 31Cost of goods   manufacturedWork in process, December 1Raw materials inventory, December 1

$

Direct   laborTotal manufacturing costsTotal cost of work in processTotal   manufacturing overheadDirect materialsTotal raw materials available for   useManufacturing overhead

   Raw   materials purchases    Factory depreciation   expense    Direct materials   used    Factory utilities   expense    Raw materials inventory, December   31    Work in process, December   31    Indirect labor    Cost of goods   manufactured    Factory supervisory   salaries    Work in process, December   1    Raw materials inventory, December   1    

$

   Work   in process, December 31    Raw materials inventory,   December 31    Indirect   labor    Direct materials used    Raw   materials purchases    Factory supervisory salaries    Factory   depreciation expense    Factory utilities   expense    Work in process, December   1    Raw materials inventory, December   1    Cost of goods manufactured    

   Total   raw materials available for use    Direct   materials    Direct labor    Total   cost of work in process    Manufacturing   overhead    Total manufacturing   overhead    Total manufacturing costs    

   Add    Less    

:

Raw materials   inventory, December 31Factory depreciation expenseRaw materials   purchasesFactory utilities expenseDirect materials usedWork in process,   December 1Factory supervisory salariesIndirect laborWork in process, December   31Cost of goods manufacturedRaw materials inventory, December 1

   Work   in process, December 1    Factory utilities   expense    Factory depreciation   expense    Work in process, December   31    Cost of goods manufactured    Raw   materials inventory, December 1    Raw materials   purchases    Raw materials inventory, December   31    Direct materials   used    Indirect labor    Factory supervisory   salaries    

Direct   laborTotal manufacturing costsManufacturing overheadTotal cost of work in   processTotal manufacturing overheadDirect materialsTotal raw materials   available for use

Total cost of   work in processManufacturing overheadDirect materialsTotal raw materials   available for useTotal manufacturing overheadTotal manufacturing costsDirect   labor

   Raw   materials inventory, December 31    Factory supervisory   salaries    Raw materials   purchases    Direct materials   used    Factory depreciation expense    Indirect   labor    Raw materials inventory, December 1    Factory   utilities expense    Work in process, December   31    Cost of goods   manufactured    Work in process, December   1    

$

   Raw   materials inventory, December 31    Raw materials   inventory, December 1    Cost of goods manufactured    Direct   materials used    Work in process, December   31    Factory depreciation   expense    Indirect labor    Work in   process, December 1    Factory supervisory   salaries    Factory utilities   expense    Raw materials   purchases    

   Work   in process, December 1    Indirect   labor    Factory supervisory   salaries    Direct materials   used    Factory depreciation expense    Raw   materials inventory, December 31    Cost of goods   manufactured    Raw materials inventory, December   1    Raw materials   purchases    Factory utilities   expense    Work in process, December   31    

   Raw   materials inventory, December 1    Work in process,   December 31    Cost of goods   manufactured    Raw materials   purchases    Indirect labor    Raw materials   inventory, December 31    Work in process, December   1    Direct materials used    Factory   supervisory salaries    Factory depreciation   expense    Factory utilities   expense    

   Total   manufacturing costs    Direct   labor    Direct materials    Total   cost of work in process    Manufacturing   overhead    Total manufacturing   overhead    Total raw materials available for   use    

Total   manufacturing overheadDirect materialsTotal raw materials available for   useDirect laborManufacturing overheadTotal cost of work in processTotal   manufacturing costs

Direct   materialsDirect laborManufacturing overheadTotal manufacturing overheadTotal   cost of work in processTotal raw materials available for useTotal   manufacturing costs

AddLess

:

Work in   process, December 1Raw materials inventory, December 31Cost of goods   manufacturedFactory depreciation expenseIndirect laborRaw materials   inventory, December 1Raw materials purchasesFactory utilities expenseDirect materials   usedWork in process, December 31Factory supervisory salaries

Indirect   laborWork in process, December 31Cost of goods manufacturedWork in process,   December 1Factory depreciation expenseRaw materials inventory, December   1Direct materials usedFactory supervisory salariesRaw materials purchasesRaw   materials inventory, December 31Factory utilities expense