Question

Cost of Goods Manufactured for a Manufacturing Company Two items are omitted from each of the following three lists of cost of goods manufactured statement data. Determine the amounts of the missing items, identifying them by letter. Work in process inventory, August 1 $2,300 $18,600 (e) Total manufacturing costs incurred during August 15,200 (c) 108,800 Total manufacturing costs (a) $217,600 $118,100 Work in process inventory, August 31 3,300 45,700 (f) Cost of goods manufactured (b) (d) $99,200

Answer 1

Ans- Determine the amounts of missing items as follows:-

Particulars	Amount ($)	Amount ($)	Amount ($)
Work in process inventory, August 1	2,300	18,600	9,300 (e)
Add: Total manufacturing costs incurred during August	15,200	199,000 (c)	108,800
Total manufacturing costs	17,500 (a)	217,600	118,100
Less: Work in process inventory, August 31	3,300	45,700	18,900 (f)
Cost of goods manufactured	14,200 (b)	171,900 (d)	99,200

Working Notes:-

a- Calculate the total manufacturing costs as follows:-

Particulars	Amount ($)
Work in process inventory, August 1	2,300
Add: Total manufacturing costs incurred during August	15,200
Total manufacturing costs	17,500

b-Calculate the cost of goods manufactured as follows:-

Particulars	Amount ($)
Total manufacturing costs	17,500
Less: Work in process inventory, August 31	3,300
Cost of goods manufactured	14,200

c- Calculate the total manufacturing costs incurred during August as follows:-

Particulars	Amount ($)
Total manufacturing costs	217,600
Less: Work in process inventory, August 1	18,600
Total manufacturing costs incurred during August	199,000

d- Calculate the cost of goods manufactured as follows:-

Particulars	Amount ($)
Total manufacturing costs	217,600
Less: Work in process inventory, August 31	45,700
Cost of goods manufactured	171,900

e-Calculate the work in process inventory, August 1 as follows:-

Particulars	Amount ($)
Total manufacturing costs	118,100
Less: Total manufacturing costs incurred during August	108,800
Work in process inventory, August 1	9,300

f- Calculate the work in process inventory, August 31 as follows:-

Particulars	Amount ($)
Total manufacturing costs	118,100
Less: Cost of goods manufactured	99,200
Work in process inventory, August 31	18,900

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