Opal Company Used $213,000 of Direct Materials and Incurred $111,000

question 12

Essay

Opal Company used $213,000 of direct materials and incurred $111,000 of direct labor costs during 2015. 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 Opal Company using the format below.
COST OF GOODS MFGD

Comprehend the nature and categorization of adaptive leadership as descriptive, prescriptive, directive, or counterintuitive.

Identify the overarching elements and the primary components of the adaptive leadership model, including adaptive work, follower behaviors, leader behaviors, and situational challenges.

Explain the concept of the holding environment in the adaptive leadership model.

Analyze the strengths and criticisms of adaptive leadership, including its process approach, follower-centeredness, and challenges in empirical research.

---

Definitions:

Carrying Costs

Expenses incurred by holding inventory or assets, including storage, insurance, and taxes.

Product Demand

Refers to the desire and necessity for consumers to purchase a specific good or service.

Carrying Cost

Costs incurred by holding inventory, including storage, insurance, and opportunity costs, over a specific period.

Credit Sales

Credit sales are transactions where the purchase of goods or services is made on credit, with payment to be made at a later date.