How do I solve for the Cost Of Goods Sold?
![MFG 27E [Read-Only] [Compatibility Mode] - Excel<br>P Search<br>Corey Beech<br>File<br>Home<br>Insert<br>Page Layout<br>Formulas<br>Data<br>Review<br>View<br>Help<br>B Share<br>X Cut<br>B Copy<br>E AutoSum<br>Courier<br>v 10<br>- A A<br>ab Wrap Text<br>Custom<br>Fill v<br>Paste<br>Conditional Format as<br>Cell<br>Insert Delete Format<br>Sort & Find &<br>BIU V<br>A v A v<br>E Merge & Center v<br>$ • % 9 58 99<br>S Format Painter<br>Formatting v<br>Table v Styles v<br>O Clear v<br>Filter v Select v<br>Clipboard<br>Font<br>Alignment<br>Number<br>Styles<br>Cells<br>Editing<br>H44<br>fx<br>A<br>B<br>D<br>E<br>H<br>J<br>K<br>L.<br>M<br>P<br>R<br>1 MFG<br>2<br>Student Name<br>3<br>4<br>Data Section:<br>5<br>6 Depreciation--equipment<br>Direct labor<br>$45,000<br>642,000<br>91,500<br>93,000<br>76,410<br>132,000<br>172,500<br>37,500<br>26,250<br>645,180<br>30,300<br>7<br>8<br>Direct materials inventory, 1/1<br>Dir<br>materials inventory, 12/31<br>10 Factory rent<br>11 Finished goods, 1/1<br>12 Finished goods, 12/31<br>13 Indirect labor<br>14 Indirect materials<br>15 Purchases of direct materials<br>16 Work in process, 1/1<br>17 Work in process, 12/31<br>28,665<br>18<br>19 Answer Section:<br>20<br>21<br>Jackson Manufacturing<br>22<br>Schedule of Cost of Goods Manufactured<br>23<br>For the Year Ended December 31<br>24<br>25 Work in process, 1/1<br>$30,300<br>26 Direct materials<br>27 Direct materials inventory, 1/1<br>$91,500<br>FORMULA 1=645,180<br>28<br>Add:<br>Purchases of Materials<br>29<br>$0<br>FORMULA 2=93,000<br>30<br>Cost of direct materials available<br>31 Less:<br>Direct Material, 12/31<br>MFG<br>Ready<br>囲<br>100%<br>1:15 PM<br>1/11/2022<br>](https://s3.us-east-1.amazonaws.com/storage.unifolks.com/qimg-008/008_5klzj0-cmcvxuvs.png)
Extracted text: MFG 27E [Read-Only] [Compatibility Mode] - Excel P Search Corey Beech File Home Insert Page Layout Formulas Data Review View Help B Share X Cut B Copy E AutoSum Courier v 10 - A A ab Wrap Text Custom Fill v Paste Conditional Format as Cell Insert Delete Format Sort & Find & BIU V A v A v E Merge & Center v $ • % 9 58 99 S Format Painter Formatting v Table v Styles v O Clear v Filter v Select v Clipboard Font Alignment Number Styles Cells Editing H44 fx A B D E H J K L. M P R 1 MFG 2 Student Name 3 4 Data Section: 5 6 Depreciation--equipment Direct labor $45,000 642,000 91,500 93,000 76,410 132,000 172,500 37,500 26,250 645,180 30,300 7 8 Direct materials inventory, 1/1 Dir materials inventory, 12/31 10 Factory rent 11 Finished goods, 1/1 12 Finished goods, 12/31 13 Indirect labor 14 Indirect materials 15 Purchases of direct materials 16 Work in process, 1/1 17 Work in process, 12/31 28,665 18 19 Answer Section: 20 21 Jackson Manufacturing 22 Schedule of Cost of Goods Manufactured 23 For the Year Ended December 31 24 25 Work in process, 1/1 $30,300 26 Direct materials 27 Direct materials inventory, 1/1 $91,500 FORMULA 1=645,180 28 Add: Purchases of Materials 29 $0 FORMULA 2=93,000 30 Cost of direct materials available 31 Less: Direct Material, 12/31 MFG Ready 囲 100% 1:15 PM 1/11/2022
![MFG 27E [Read-Only] [Compatibility Mode] - Excel<br>P Search<br>Corey Beech<br>File<br>Home<br>Insert<br>Page Layout<br>Formulas<br>Data<br>Review<br>View<br>Help<br>B Share<br>X Cut<br>- A A<br>ab Wrap Text<br>E AutoSum<br>Courier<br>v 10<br>Custom<br>LB Copy<br>Paste<br>Fill v<br>Conditional Format as<br>Cell<br>Insert Delete Format<br>Sort & Find &<br>BIU v<br>A v A v<br>E Merge & Center v<br>$ • % 9 58 99<br>S Format Painter<br>Formatting v<br>Table v Styles v<br>O Clear v<br>Filter v Select v<br>Clipboard<br>Font<br>Alignment<br>Number<br>Styles<br>Cells<br>Editing<br>H44<br>fx<br>A<br>B<br>D<br>E<br>F<br>H<br>J<br>K<br>L.<br>M<br>P<br>R<br>26 Direct materials<br>$91,500<br>FORMULA 1=645,180<br>27<br>Direct materials inventory, 1/1<br>28<br>Add:<br>Purchases of Materials<br>29<br>30<br>Cost of direct materials available<br>$0<br>31<br>Less:<br>Direct Material, 12/31<br>FORMULA 2=93,000<br>32<br>33 Cost of direct materials used<br>FORMULA 3=552180<br>34 Direct labor<br>642,000<br>35 Manufacturing overhead:<br>36 Factory rent<br>37 Depreciation - Equipment FORMULA 4=45,000<br>38 Indirect Labor<br>$76,410<br>FORMULA 5=37,500<br>FORMULA 6=26,250<br>39<br>Indirect Material<br>185,160<br>40<br>41 Total manufacturing costs<br>FORMULA 7=1,470,840<br>42<br>$0<br>Total work in process available<br>44 Less:<br>43<br>Work in Process, 12/31<br>FORMULA 8=28665<br>45<br>46 Cost of goods manufactured<br>$1,472,475<br>47<br>============<br>48<br>49<br>Schedule of Cost of Goods Sold<br>50<br>Finished Goods, 1/1<br>FORMULA 10=132,000<br>51<br>Cost of goods manufactured<br>1,472,475<br>52<br>Cost of goods available for sale<br>Finished goods, 12/31<br>53<br>FORMULA 11=1776975<br>54<br>Less:<br>172,500<br>55<br>56 Cost of Goods Sold<br>FORMULA 12=1604475<br>MFG<br>Ready<br>囲<br>100%<br>1:15 PM<br>1/11/2022<br>](https://s3.us-east-1.amazonaws.com/storage.unifolks.com/qimg-008/008_57clzj0-a3qcumjk.png)
Extracted text: MFG 27E [Read-Only] [Compatibility Mode] - Excel P Search Corey Beech File Home Insert Page Layout Formulas Data Review View Help B Share X Cut - A A ab Wrap Text E AutoSum Courier v 10 Custom LB Copy Paste Fill v Conditional Format as Cell Insert Delete Format Sort & Find & BIU v A v A v E Merge & Center v $ • % 9 58 99 S Format Painter Formatting v Table v Styles v O Clear v Filter v Select v Clipboard Font Alignment Number Styles Cells Editing H44 fx A B D E F H J K L. M P R 26 Direct materials $91,500 FORMULA 1=645,180 27 Direct materials inventory, 1/1 28 Add: Purchases of Materials 29 30 Cost of direct materials available $0 31 Less: Direct Material, 12/31 FORMULA 2=93,000 32 33 Cost of direct materials used FORMULA 3=552180 34 Direct labor 642,000 35 Manufacturing overhead: 36 Factory rent 37 Depreciation - Equipment FORMULA 4=45,000 38 Indirect Labor $76,410 FORMULA 5=37,500 FORMULA 6=26,250 39 Indirect Material 185,160 40 41 Total manufacturing costs FORMULA 7=1,470,840 42 $0 Total work in process available 44 Less: 43 Work in Process, 12/31 FORMULA 8=28665 45 46 Cost of goods manufactured $1,472,475 47 ============ 48 49 Schedule of Cost of Goods Sold 50 Finished Goods, 1/1 FORMULA 10=132,000 51 Cost of goods manufactured 1,472,475 52 Cost of goods available for sale Finished goods, 12/31 53 FORMULA 11=1776975 54 Less: 172,500 55 56 Cost of Goods Sold FORMULA 12=1604475 MFG Ready 囲 100% 1:15 PM 1/11/2022