Yamishi Production Had the Following Inventories for the First Quarter

question 147

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.

---

Definitions:

Employment

A formal relationship between an individual and an organization or another individual, where the former provides labor in return for compensation.

Career

The progression and actions an individual takes over their lifetime in the exploration, establishment, and progression within their chosen work.

Corporate Culture

The shared values, beliefs, and practices that characterize an organization, influencing its members' behavior and company operations.

Organizational Socialization

The process by which new employees learn the values, norms, and required behaviors of an organization.