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LillyProducts, a small manufacturer, has submitted the items below concerning last year's operations. The president's...

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Question

Accounting

LillyProducts, a small manufacturer, has submitted the items below concerning last year's operations. The president's secretary, trying to be helpful, has alphabetized the list.

You are required toa)Prepare a schedule of Cost of Goods Manufactured for the year &

b)Cost of Goods Sold for the year.

Descriptions

Dollars $

Administrative salaries

2,400

Advertising expense

1,200

Depreciationfactory building

800

Depreciationfactory equipment

1,600

Depreciationoffice equipment

180

Direct labour cost

21,900

Raw materials inventory, beginning

2,100

Raw materials inventory, ending

3,200

Finished goods inventory, beginning

46,980

Finished goods inventory, ending

44,410

General liability insurance expense

240

Indirect labour cost

11,800

Insurance on factory

1,400

Purchases of raw materials

14,600

Repairs and maintenance of factory

900

Sales salaries

2,000

Taxes on factory

450

Travel and entertainment expense

1,410

Work in process inventory, beginning

1,670

Work in process inventory, ending

1,110


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