Statement of Cost of Goods Manufactured from Percent Relationships Information about NuWay Products Company for the year ending december 31 2014,…

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Statement of Cost of Goods Manufactured from Percent Relationships

Information about NuWay Products Company for the year ending december 31 2014, follows:

*Sales equal $525,000

*Direct materials used total $72,000

*Manufacturing overhead is 150 percent of direct labor dollars.

*The beginning inventory of finished goods is 20 percent of the cost of goods sold.

*The ending inventory of finished goods is twice the beginning inventory.

*The gross profit is 20 percent of sales.

*There is no beginning or ending work-in-process.


Prepare a statement of Cost of Goods Manufactured for 2014

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