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2016 Manufacturing Costs Breakdown

The document outlines three sections related to manufacturing costs. Section 1 summarizes the direct materials used in production, which totaled ₱363,500. Section 2 lists the components of total manufacturing costs, including direct materials, direct labor, and factory overhead expenses. Section 3 calculates the total cost of goods manufactured for the period, which was ₱788,855 after accounting for raw materials, labor, overhead, work in process, and ending inventory amounts.

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Jasmine Acta
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88 views2 pages

2016 Manufacturing Costs Breakdown

The document outlines three sections related to manufacturing costs. Section 1 summarizes the direct materials used in production, which totaled ₱363,500. Section 2 lists the components of total manufacturing costs, including direct materials, direct labor, and factory overhead expenses. Section 3 calculates the total cost of goods manufactured for the period, which was ₱788,855 after accounting for raw materials, labor, overhead, work in process, and ending inventory amounts.

Uploaded by

Jasmine Acta
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd

1 Direct materials used

Raw Materials Inventory, Jan 1, 2016 26,490.00


Raw Materials Purchases 361,920.00
Materials available for use 388,410.00
Less: Raw Materials Inventory, Dec. 31, 2016 24,910.00
Direct materials used ₱ 363,500.00

2 Total Manufacturing Costs


Raw Materials Inventory, Jan 1, 2016 26,490.00
Raw Materials Purchases 361,920.00
Materials available for use 388,410.00
Less: Raw Materials Inventory, Dec. 31, 2016 24,910.00
Direct materials used
Direct labor
Factory overhead:
Plant Supervision 42,500.00
Indirect Labor 126,750.00
Factory Insurance 8,100.00
Factory Utilities 29,220.00
Depreciation- Factory Building 46,200.00
Depreciation- Factory Equipment 62,800.00
Manufacturing Supplies 9,460.00
Total manufacturing costs

3 Cost of Goods Manufactured


Raw Materials Inventory, Jan 1, 2016 26,490.00
Raw Materials Purchases 361,920.00
Materials available for use 388,410.00
Less: Raw Materials Inventory, Dec. 31, 2016 24,910.00
Direct materials used
Direct labor
Factory overhead:
Plant Supervision 42,500.00
Indirect Labor 126,750.00
Factory Insurance 8,100.00
Factory Utilities 29,220.00
Depreciation- Factory Building 46,200.00
Depreciation- Factory Equipment 62,800.00
Manufacturing Supplies 9,460.00
Total manufacturing costs
Work in process inventory, Jan 1, 2016
Cost of goods put into process
Less: Work in process inventory, Dec. 31, 2016
Cost of goods manufactured
₱ 363,500.00
99,085.00

325,030.00
₱ 787,615.00

₱ 363,500.00
99,085.00

325,030.00
₱ 787,615.00
101,640.00
889,255.00
100,400.00
₱ 788,855.00

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