165. Use the following information to prepare the manufacturing statement for Forsythe Company for the month ended June 30:
Goods in process inventory, May 31
$12,600
Goods in process inventory, June 30
16,500
Direct materials used during June
21,000
Direct labor used during June
31,000
Factory overhead:
Indirect material
6,400
Indirect labor
9,200
Factory rent
12,000
Factory depreciation
15,000
Factory utilities
18,400
166. Bourne Crafts manufactures specialty key chains for tourist attractions. On December 31, 2013, the firm had 200 souvenir attraction disks used in the production of the chains that cost $3 each; and 600 completed key chains that cost $6 each. During year 2013 Bourne Crafts purchased 1,500 souvenir disks costing $3 each and produced 1,100 key chains.Required:Determine the total cost of raw materials inventory at December 31, 2013.
167. The following items for Titus Company are used to compute the cost of goods manufactured and the cost of goods sold. Indicate how each item should be used in the calculations by filling in the blanks with "+" if the item is to be added, "-" if the item is to be subtracted, or "0" if the item is not used in the calculation. The first item is completed as an example.
Cost of
GoodsManu-
Goods
factured
Beginning finished goods inventory
___0___
__+___
Ending finished goods inventory
_______
______
Direct labor
Beginning goods in process inventory
Ending goods in process inventory
General and administrative expenses
Indirect materials
Beginning raw materials inventory
Ending raw materials inventory
Raw material purchases
Depreciation of factory building
Cost of goods manufactured
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