Jane Neff believes that the cost of good manufactured schedule in job order cost accounting is the same as below. Is Jane correct ?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Jane Neff believes that the cost of good manufactured schedule in job order cost accounting is the same as below. Is Jane correct ? 

8.
24
2
%23
Factory utilities
10,100
Factory depreciation
9,440
Factory insurance
8,360
Total manufacturing overhead
54,800
Total manufacturing costs
376,800
Total cost of work in process
395,200
Less: Work in process, December 31
25,200
$370,000
Cost of goods manufactured
*To simplify the presentation, assumes that all raw materials used were direct materials.
Is Jane correct?
Attempts: 0 of 1 used SubmitA
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13
F12
同回
F10
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F8
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7.
5,
Transcribed Image Text:8. 24 2 %23 Factory utilities 10,100 Factory depreciation 9,440 Factory insurance 8,360 Total manufacturing overhead 54,800 Total manufacturing costs 376,800 Total cost of work in process 395,200 Less: Work in process, December 31 25,200 $370,000 Cost of goods manufactured *To simplify the presentation, assumes that all raw materials used were direct materials. Is Jane correct? Attempts: 0 of 1 used SubmitA Save for Later 13 F12 同回 F10 F11 F8 to F7 因 F5 6. +Do 7. 5,
* 00
团
#3
Current Designs
Cost of Goods Manufactured Schedule
for the Year Ended December 31, 2022
Work in process, January 1
Direct materials
$ 18,400
Raw materials inventory, January 1
$ 16,700
Raw materials purchases
152,500
Total raw materials available for use
169,200
Less: Raw materials inventory, December 31
22,800
Direct materials used
$146,400*
Direct labor
175,600
Manufacturing overhead
Indirect labor
14,300
Factory repairs
00
10,100
Factory utilities
9,440
Factory depreciation
13
+
F12
F11
F10
F8
F7
F5
*
F4
&
-D
F2
F3
F1
7.
4.
2
Transcribed Image Text:* 00 团 #3 Current Designs Cost of Goods Manufactured Schedule for the Year Ended December 31, 2022 Work in process, January 1 Direct materials $ 18,400 Raw materials inventory, January 1 $ 16,700 Raw materials purchases 152,500 Total raw materials available for use 169,200 Less: Raw materials inventory, December 31 22,800 Direct materials used $146,400* Direct labor 175,600 Manufacturing overhead Indirect labor 14,300 Factory repairs 00 10,100 Factory utilities 9,440 Factory depreciation 13 + F12 F11 F10 F8 F7 F5 * F4 & -D F2 F3 F1 7. 4. 2
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