Cost of Goods Manufactured and Sold Allure Company produces women’s clothing.
During 2004, the company incurred the following costs:
Factory rent 265,000
Direct labor 325,000
Utilities-Factory 88,000
Purchases of direct materials 465,000
Indirect materials 70,000
Indirect labors 35,000
Inventories for the year were as follows:
January 1 December 31
Direct materials 90,000 50,000
Work in process 40,000 85,000
Finished goods 115,000 95,000
Required
1. Prepare a statement of cost of goods manufactured
2. Calculate cost of goods sold.
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Company produces women’s clothing.
During 2004, the company incurred the following costs:
Factory rent 265,000
Direct labor 325,000
Utilities-Factory 88,000
Purchases of direct materials 465,000
Indirect materials 70,000
Indirect labors 35,000
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