Dreams Manufacturing Company Provided the Following Information for the Year

question 2

Essay

Dreams Manufacturing Company provided the following information for the year 2015:
$$\begin{array} { | l | r | } \hline \text { Purchases-Raw Materials } & \$ 270,000 \\\hline \text { Plant Utilities \& Insurance } & 202,500 \\\hline \text { Indirect Materials } & 35,250 \\\hline \text { Indirect Labor } & 14,250 \\\hline \text { Ending Balance - Work-in-Process Inventory } & 42,000 \\\hline \text { Ending Balance - Raw Materials Inventory } & 45,000 \\\hline \text { Direct Labor } & 352,500 \\\hline \text { Depreciation on Factory Plant \& Equipment } & 18,000 \\\hline \text { Beginning Balance - Work-in-Process Inventory } & 18,000 \\\hline \text { Beginning Balance-Raw Materials Inventory } & 63,000 \\\hline\end{array}$$ Required: Prepare a statement of the cost of goods manufactured using the following format:
$$\begin{array} { | l | l | l | l | } \hline \text { COSTOF GOODS MFGD } & \quad\quad\quad& \quad\quad\quad&\quad\quad\quad \\\hline \text { Beginning Work-in-Process Inventory } & & & \\\hline \text { Direct Materials Used: } & & & \\\hline \text { Beginning Raw Materials Inventory } & & & \\\hline \text { Purchases of Raw Materials } & & & \\\hline \text { Raw Materials Available for Use } & & & \\\hline \text { Ending Raw Materials Inventory } & & & \\\hline \text { Direct Materials Used } & & & \\\hline \text { Direct Labor } & & & \\\hline \text { Manufacturing Overhead: } & & & \\\hline \text { Indirect Materials } & & & \\\hline \text { Indirect Labor } & & & \\\hline \text { Depreciation-Plant \& Equip. } & & & \\\hline \text { Plant utilities \& Insurance } & & & \\\hline \text { Total Manufacturing Overhead } & & & \\\hline \text { Total Manufacturing Costs Incurred During } & & & \\\hline \text { the Year } & & & \\\hline \text { Total Manufacturing Costs to Account For } & & & \\\hline \text { Ending Work-in-Process Inventory } & & & \\\hline \text { Cost of Goods Manufactured } & & & \\\hline\end{array}$$

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Definitions:

Sociobiology

A branch of biology that studies the evolutionary basis of social behavior in animals and humans.

Posthumanism

Explores the possibilities of life beyond the traditional humanist perspective, including the integration of technology into human life, challenging anthropocentric views.

Technoscience

An interdisciplinary field that explores the inseparable connections between science and technology, emphasizing their co-evolution and the social implications of their development.

Postsociality

Describes a societal condition or theoretical perspective that transcends traditional notions of social relationships and structures.