Yamishi Production Had the Following Inventories for the First Quarter

question 46

Essay

Yamishi Production had the following inventories for the first quarter of 20xx:
$\begin{array}{lrr}&\text { Beginning }&\text { Ending }\\\text { Materials } & \$ 606,600 & \$ 522,100 \\\text { Work in process } & 312,100 & 280,800 \\\text { Finished goods } & 416,100 & 540,200\end{array}$
Purchases of materials during the quarter were $427,800.Total direct labor costs were incurred in the amount of $1,482,000.Actual overhead costs were incurred as follows: operating supplies used,$17,100; janitorial and maintenance,$87,300; employee benefits,$26,400; utilities,$162,000; depreciation of factory,$43,200; property taxes,$24,000; factory insurance,$29,000.Net sales for the quarter were $3,562,200.Selling and administrative expenses were $508,000.Income taxes should be computed at 40 percent.
Prepare a statement of cost of goods manufactured for the first quarter of 20xx.

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Definitions:

Purine

A nitrogen-containing compound that is one of the two types of bases found in DNA and RNA, the other being pyrimidine.

Pyrimidine

A nitrogenous base found in nucleic acids, characterized by a single ring structure, such as cytosine, thymine (in DNA), and uracil (in RNA).

Diploid

Having two of each type of chromosome characteristic of the species (2n).

Chromosomes

Structures consisting of DNA and proteins, found in the nucleus of cells, carrying genetic information in the form of genes.