Sheet Formats

Question 1

Cost of goods manufactured Schedule

Answer 1

Hannifan Manufacturing Company
Cost of Goods Manufactured Schedule
Period Ended May 31st
In Canadian $

Beginning WIP 17400
Direct materials 54200
Direct Labour 32000
MOH Applied 40000
Total Manufacturing costs 126200
Total WIP 143600
Less: WIP May 31st 17900
Cost of Goods Manufactured 125700

Question 2

Income Statement (partial)

Answer 2

Hannifan Manufacturing Company
Income Statement (partial)
Period Ended May 31st
In Canadian $

Sales Revenue 200000

Cost of Goods Sold
Beginning FG 12600
Cost of goods Manufactured 125700
Total FG Inventory 138300
Less: FG End of Period 15400
COGS 122900
Gross Profit 77100

Question 3

Balance Sheet (Manufacturing Inventory)

Answer 3

Hannifan Manufacturing Company
Balance Sheet (Manufaturing Inventory)
As At May 31
In Canadian $

Finished Goods
WIP
Raw Materials