Answer:
a.Cost OF Goods Manufactured $ 1324,680
b.Cost OF Goods Sold 1298,880
Step-by-step explanation:
Sandusky Manufacturing Company
Cost of Goods Manufactured Statement
For the Month Ended January 31
Materials Inventories Beginning $314,000
Add Materials purchased during the month 606,600
Less Materials Inventories January 31 Ending $276,800
Total Materials Used $ 643,800
Direct labor $567,000
Factory overhead incurred during the month: $ 138280
Indirect labor 60,520
Machinery depreciation 32,000
Heat, light, and power 12,200
Supplies 8,220
Property taxes 8,880
Miscellaneous costs 16,460
Total Manufacturing Costs 1349,080
Add Work in process Beginning 216,000
Cost OF Goods Available For Manufacture $ 1565,080
Less Work in process Ending 239,800
Cost OF Goods Manufactured $ 1325,280
The Cost OF Goods Manufactured Statement is obtained by the following formula
Cost OF Goods Manufactured = Materials used+ direct labor+ FOH + WIP Beginning - WIP Ending.
Sandusky Manufacturing Company
Cost of Goods Sold Statement
For the Month Ended January 31
Cost OF Goods Manufactured $ 1325,280
Add Finished goods Beginning 163,200
Cost OF Goods Available For Sale 1488,480
Less Finished goods Ending 189,000
Cost OF Goods Sold 1299,480
The Cost OF Goods Sold Statement is obtained by the following formula
Cost OF Goods Sold = Cost OF Goods Manufactured+ FG Beginning - FG Ending.