Dreams Manufacturing Company Provided the Following Information for the Year

question 38

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:
$\begin{array}{|l|l|l|l|}\hline \text { COST OF GOODS MFGD } &\quad \quad &\quad \quad & \quad \quad \\\hline \text { Beginning Work-in-Process Inventory } & & & \\\hline \text { Direct Materials Used: } & & & \\\hline \text { Beginning Raw Materials Inventory } & & & \\\hline \text { Purchases of Raw Materials } & & & \\\hline \text { Raw Materials Available for Use } & & & \\\hline \text { Ending Raw Materials Inventory } & & &\\\hline \text { Direct Materials Used } & & & \\\hline \text { Direct Labor } & & & \\\hline \text { Manufacturing Overhead: } & & & \\\hline \text { Indirect Materials } & & &\\\hline \text { Indirect Labor } & & & \\\hline \text { Depreciation-Plant \& Equip. } & & & \\\hline \text { Plant utilities \& Insurance } & & & \\\hline \text { Total Manufacturing Overhead } & & &\\\hline \text { Total Manufacturing Costs Incurred During } & & & \\\text { the Year } & & & \\\hline \text { Total Manufacturing Costs to Account For } & & &\\\hline \text { Ending Work-in-Process Inventory } & & & \\\hline\text { Cost of Goods Manufactured } & & &\\\hline\end{array}$

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Definitions:

Eating Disorders

Mental health disorders characterized by abnormal or disturbed eating habits, which can severely impact one's health and well-being.

Minority Racial/Ethnic Groups

Ethnically, culturally, or racially distinct groups that make up a smaller percentage of the population compared to the majority group.

Better Educated

Having received a higher level or quality of education than average.

Compulsive Overeating

An eating disorder characterized by the uncontrollable urge to eat large quantities of food, often leading to weight gain and emotional distress.