Author Question: Howard Manufacturing Company had the following account balances for the quarter ending March 31, ... (Read 21 times)

yoroshambo · **on:** Mar 6, 2021

Howard Manufacturing Company had the following account balances for the quarter ending March 31, unless otherwise noted:

Work-in-process inventory (January 1)

$ 140,400

Work-in-process inventory (March 31)

171,000

Finished goods inventory (January 1)

540,000

Finished goods inventory (March 31)

510,000

Direct materials used

420,000

Indirect materials used

84,000

Direct manufacturing labor

480,000

Indirect manufacturing labor

186,000

Property taxes on manufacturing plant building

28,800

Salespersons' company vehicle costs

12,000

Depreciation of manufacturing equipment

264,000

Depreciation of office equipment

123,600

Miscellaneous plant overhead

135,000

Plant utilities

92,400

General office expenses

305,400

Marketing distribution costs

30,000

Required:

a.	Prepare a cost of goods manufactured schedule for the quarter.

b.	Prepare a cost of goods sold schedule for the quarter.

AaaA · **Reply #1 on:** Mar 6, 2021

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