Financial and Managerial Accounting: E16-15 Cost data for T. Clark Manufacturing Company
Financial and Managerial Accounting
E16-15 Cost data for T. Clark Manufacturing Company for the month ending April 30,2008, are as follows: Inventories April 1 April 30 Materials 125,000 110,000 Work in Progress 85,000 95,000 Finished goods 65,000 75,000
Direct Labor 225,000 Materials purchased during April 240,000 Factory overhead incurred during April: Indirect Labor 24,000 Machinery depreciation 14,000 Heat, Light, and power 5,000 Supplies 4,000 Property taxes 3,500 Miscellaneous cost 6,500
a. Prepare a cost of goods manufactured statement for April 2008. b. Determine the cost of goods sold for April 2008.