Messinger Manufacturing Company Had the Following Account Balances for the Quarter

question 5

Essay

Messinger Manufacturing Company had the following account balances for the quarter ending March 31,unless otherwise noted:
$$\begin{array} { l r } \text { Work-in-process inventory (January 1) } & \$ 140,400 \\\text { Work-in-process inventory (March 31) } & 17,000 \\\text { Finished goods inventory (January 1) } & 540,000 \\\text { Finished goods inventory (March 31) } & 510,000 \\\text { Direct materials used } & 378,000 \\\text { Indirect materials used } & 84,000 \\\text { Direct manuufacturing labor } & 480,000 \\\text { Indirect manufacturing labor } & 186,000 \\\text { Property taxes on manufacturing plant building } & 28,800 \\\text { Salespersons' company vehicle costs } & 12,000 \\\text { Depreciation of manufacturing equipment } & 264,000 \\\text { Depreciation of office equipment } & 123,600 \\\text { Miscellaneous plant overhead } & 135,000 \\\text { Plant utilities } & 92,400 \\\text { General office expenses } & 305,400 \\\text { Marketing distribution costs } & 30,000\end{array}$$ Required:
a.Prepare a cost of goods manufactured schedule for the quarter.
b.Prepare a cost of goods sold schedule for the quarter.