RequiredSupply the missing information on the following schedule of cost of goods manufactured.FISCHER CORPORATIONSchedule of Cost of Goods ManufacturedFor the Year Ended December 31, Year 2Raw materialsBeginning inventoryPlus: PurchasesRaw materials available for useMinus: Ending raw materials inventory118,600$ 148,600Cost of direct raw materials used$ 123,500Direct laborManufacturing overheadTotal manufacturing costsPlus: Beginning work in process inventory| Total work in process23,700309,200 FISCHER CORPORATIONSchedule of Cost of Goods ManufacturedFor the Year Ended December 31, Year 2Raw materialsBeginning inventoryPlus: PurchasesRaw materials available for useMinus: Ending raw materials inventory118,600$ 148,600Cost of direct raw materials used$ 123,500Direct laborManufacturing overheadTotal manufacturing costsPlus: Beginning work in process inventoryTotal work in processMinus: Ending work in process inventory23,700309,20047,100Cost of goods manufactured$ 306,800

To find the blanks we should apply various formulas at different stages: The approach would be that…

FISCHER CORPORATION Schedule of Cost of Goods Manufactured For the Year Ended December 31, Year 2 Raw materials Beginning inventory Plus: Purchases Raw materials available for use Minus: Ending raw materials inventory Cost of direct raw materials used Direct labor Manufacturing overhead Total manufacturing costs Plus: Beginning work in process inventory 118,600 $ 148,600 $ 123,500 23,700 309,200 Total work in process Minus: Ending work in process inventory Cost of goods manufactured 47,100 $ 306,800

FISCHER CORPORATION Schedule of Cost of Goods Manufactured For the Year Ended December 31, Year 2 Raw materials Beginning inventory Plus: Purchases Raw materials available for use Minus: Ending raw materials inventory Cost of direct raw materials used Direct labor Manufacturing overhead Total manufacturing costs Plus: Beginning work in process inventory 118,600 $ 148,600 $ 123,500 23,700 309,200 Total work in process Minus: Ending work in process inventory Cost of goods manufactured 47,100 $ 306,800

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 2SEA: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin...

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