How do you prepare a schdule for cost of goods mannufactured for the year using the indirect method?
Solution
The schdule for cost of goods mannufactured for the year is prepared by following method:
Indirect Method
Direct Method
.
How do you prepare a schdule for cost of goods mannufactured for the y.docx
1. How do you prepare a schdule for cost of goods mannufactured for the year using the indirect
method?
Solution
The schdule for cost of goods mannufactured for the year is prepared by following method:
Indirect Method
Direct Method
Net Income XXXX
Add : Selling and Administrative Expenses XXXX
Add : Gross Margin XXXX
Adjusted Cost of Good Sold XXXX
Add/Less: Overapplied/UnderApplied Overhead XXXX
Unadjusted Cost of Good Sold XXXX
Add: Finished Goods Inventory Ending XXXX
Cost of Goods Available for sale XXXX
Less : Finished Goods Inventory Beginning XXXX
Cost of Good Manufactured XXXX