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	$2,100		$17,600		(e)
Total manufacturing costs incurred during August	14,100		(c)		103,000
Total manufacturing costs	(a)		$205,900		$111,800
Work in process inventory, August 31	3,100		43,200		(f)
Cost of goods manufactured	(b)		(d)		$93,900

a.	$
b.	$
c.	$
d.	$
e.	$
f.	$

Answer 1

--Answers

Work in process inventory, August 1	$                      2,100	$                                 17,600	$                 8,800
Total manufacturing costs incurred during August	$                    14,100	$                              188,300	$            103,000
Total manufacturing costs	$                    16,200	$                              205,900	$            111,800
Work in process inventory, August 31	$                      3,100	$                                 43,200	$               17,900
Cost of goods manufactured	$                    13,100	$                              162,700	$               93,900

--Working

Work in process inventory, August 1	2100	17600	=111800-103000
Total manufacturing costs incurred during August	14100	=205900-17600	103000
Total manufacturing costs	=2100+14100	205900	111800
Work in process inventory, August 31	3100	43200	=111800-93900
Cost of goods manufactured	=16200-3100	=205900-43200	93900

Cost of Goods manufactured = Beginning WIP + Manufacturing cost incurred - Ending WIP