Question

In: Accounting

Given the following, calculate cost of goods manufactured: Inventories: Beginning Ending Direct materials $300 $250 Work...

Given the following, calculate cost of goods manufactured:

Inventories:

Beginning

Ending

Direct materials

$300

$250

Work in process

$400

$200

Finished goods

$500

$350

Direct material purchases $4,200

Direct labor $3,000

Manufacturing overhead $5,000

Solutions

Expert Solution

Answer:

Cost of goods manufactured = $12,450

Working notes for the above answer is as under

Cost of goods manufactured

Inventories:

Beginning Direct materials

300

Add: Direct material purchases  

4200

Less: Ending Direct materials

-250

Direct Material used

4250

Add: Direct labor

3000

Add: Manufacturing overhead

5000

Total Manufacturing Cost

12250

Add: Beginning Work in process

400

Less: Ending Work in process

-200

Cost of Goods Manufactured

12450

ekkarill92 answered 2 years ago
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