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BM 220 – MANAGEMENT ACCOUNTING AND CONTROL
Case 6-1: Browning Manufacturing Company
ALLON, ROWENA T.
1997-65710
1.
Browning Manufacturing Company
Projected 2010 Statement of Cost of Goods Sold
Finished goods inventory, 1/1/10
257,040.00
Work in process inventory, 1/1/10
172,200.00
Materials used
811,000.00
Plus: Factory expenses
Direct manufacturing labor
492,000.00
Factory overhead:
Indirect manufacturing labor
198,000.00
Power, heat and light
135,600.00
Depreciation of plant
140,400.00
Social Security taxes
49,200.00
Taxes and insurance, factory
52,800.00
Supplies
61,200.00
637,200.00
2,112,400.00
Less: Work in process inventory,
12/31/10
210,448.00
Cost of goods manufactured (i.e.
Completed)
1,901,952.00
2,158,992.00
Less: Finished goods inventory,
12/31/10
352,368.00
Cost of goods sold
1,806,624.00
BM 220 – MANAGEMENT ACCOUNTING AND CONTROL
Case 6-1: Browning Manufacturing Company
ALLON, ROWENA T.
1997-65710
Browning Manufacturing Company
Projected 2010 Income Statement
Sales
2,562,000.00
Less:
Sales returns and
allowances
19,200.00
Sales discounts
allowed
49,200.00
68,400.00
