## Solution for Cost Accounting: Foundations and Evolutions 8th Edition Chapter 2, Problem 16

by Michael R. Kinney, Cecily A. Raiborn
358 Solutions 19 Chapters 53447 Studied ISBN: 9781439044612 5 (1)

# Chapter 2, Problem Exercise 16 : Exercise 2-33   ...

 Exercise 2-33 Enter the appropriate amounts in the gray-shaded cells of columns E and F. Enter amounts to be subtracted as negatives. If an answer is incorrect, the word "wrong" will appear. a. Irresistible Art Cost of Goods Manufactured Schedule For the Month Ended July 31, 2010 Beginning work in process inventory \$   1,46,400 Direct materials: Beginning raw material inventory \$      93,200 Add: Raw material purchased 6,56,000 Raw material available Ending raw material inventory (69,600) Raw material used Indirect material used (1,75,600) Direct material used \$   5,04,000 Direct labor cost 5,91,000 Overhead: Various \$   6,00,000 Indirect material used Indirect labor 1,97,000 Total overhead cost 9,72,600 Total costs Less: Ending work in process inventory (1,20,000) Cost of goods manufactured b. Irresistible Art Cost of Goods Sold Schedule For the Month Ended July 31, 2010 Beginning finished goods \$      72,000 Cost of goods manufactured 20,94,000 Goods available for sale Ending finished goods inventory (1,04,800) Cost of goods sold

## Step-By-Step Solution

#### Chapter 2, Problem Exercise 16

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