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 1 year ago

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