Acc350 Managerial Accounting: E18-22 Knight Corp., a lamp manufacturer, provided
Acc350 Managerial Accounting E18-22 Preparing a schedule of cost of goods manufactured Knight Corp., a lamp manufacturer, provided the following information for the year ended December 31, 2014. Inventories: Beginning Ending Raw Materials 56,000 23,000 Work-in-Process 103,000 63,000 Finished Goods 41,000 48,000 Other information: Depreciation, plant building and equipment 16,000 Raw materials purchases 159,000 Insurance on plant 22,000 Sales salaries 46,000 Repairs and maintenance—plant 8,000 Indirect labor 32,000 Direct labor 122,000 Administrative expenses 59,000
Requirements 1. Use the information to prepare a schedule of cost of goods manufactured. 2. What is the unit product cost if Knight manufactured 2,160 lamps for the year?