Varda,IncUsed $213,000 of Direct Materials and Incurred $111,000 of Direct

question 232

Essay

Varda,Inc.used $213,000 of direct materials and incurred $111,000 of direct labor costs during the year.Indirect labor amounted to $8,100,while indirect materials used totaled $4,800.Other operating costs pertaining to the factory included utilities of $9,300; maintenance of $13,500; repairs of $5,400; depreciation of $23,700; and property taxes of $7,800.There was no beginning or ending finished goods inventory.The Work-in-Process Inventory account reflected a balance of $16,500 at the beginning of the period and $22,500 at the end of the period.
Required: Prepare a schedule of cost of goods manufactured for Varda,Inc.using the format below.
Schedule of Cost of Goods Manufactured
$\begin{array} { | l | l | l | l | } \hline \text { Beginning Work-in-Process Inventory } & \quad\quad\quad&\quad\quad\quad\quad & \quad\quad\quad\quad\quad\\\hline \text { Direct Materials Used } & & & \\\hline \text { Direct Labor } & & & \\\hline \text { Manufacturing Overhead: } & & & \\\hline \text { Indirect Labor Used } & & & \\\hline \text { Indirect Materials } & & & \\\hline \text { Utilities } & & & \\\hline \text { Maintenance } & & & \\\hline \text { Repairs } & & & \\\hline \text { Depreciation } & & & \\\hline \text { Property Taxes } & & & \\\hline \text { Total Manufacturing Overhead } & & & \\\hline \text { Total Manufacturing Costs Incurred } & & & \\ \text { during the Year } & & & \\\hline \text { Total Manufacturing Costs to Account } & & & \\ \text { For } & & & \\\hline \text { Ending Work-in-Process Inventory } & & & \\\hline \text { Cost of Goods Manufactured } & & & \\\hline\end{array}$

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Definitions:

Internal Carotid Artery

A principal blood vessel that delivers blood to the brain, eyes, and additional areas of the head.

Radial Artery

A major artery in the forearm that supplies blood to the lateral aspect of the hand and the thumb.

Coronary Artery

An artery supplying blood to the heart muscle itself, essential for providing oxygen and nutrients.

Subclavian Artery

A major artery that supplies blood to the thorax, upper limbs, and head.