Varda,IncUsed $213,000 of Direct Materials and Incurred $111,000 of Direct $\text { Schedule of Cost of Goods Manufactured }$

question 178

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.
$\text { Schedule of Cost of Goods Manufactured }$
$\begin{array}{|l|l|l|l|}\hline \text { Beginning Work-in-Process Inventory } &\quad\quad & \quad\quad&\quad\quad \\\hline \text { Direct Materials Used } & & & \\\hline \text { Direct Labor } & & & \\\hline \text { Manufacturing Overhead: } & & & \\\hline \text { Indirect Labor Used } & & & \\\hline \text { Indirect Materials } & & \\\hline \text { Utilities } & & \\\hline \text { Maintenance } & & \\\hline \text { Repairs } & & \\\hline \text { Depreciation } & & \\\hline \text { Property Taxes } & & \\\hline \text { Total Manufacturing Overhead } & \\\hline \text { Total Manufacturing Costs Incurred } & \\\text { during the Year } & \\\hline \text { Total Manufacturing Costs to Account } & \\\text { For } & \\\hline \text { Ending Work-in-Process Inventory } & \\\hline \text { Cost of Goods Manufactured } & \\\hline\end{array}$

Comprehend the ethical considerations involved in anthropology, particularly concerning the repatriation of human remains.

Identify the key ethical obligations of anthropologists to various groups.

Define and understand the purpose of cultural resource management.

Analyze differing cultural perspectives on sensitive issues such as organ harvesting.

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Definitions:

Compounded Options

Compounded options are not a standard financial term, suggesting a mix-up or confusion with terms related to compound interest or options trading. NO.

GICs

In Canada, Guaranteed Investment Certificates represent an investment option guaranteeing a fixed return rate over a certain time frame.

Annually

Happening annually or pertaining to a timeframe of one year.

Effective Interest Rate

The actual interest rate that a borrower pays or earns on a loan or investment, taking into account the effect of compounding.