In: Accounting
Rediger Inc., a manufacturing Corporation, has provided the following data for the month of June. The balance in the Work in Process inventory account was $30,000 at the beginning of the month and $21,000 at the end of the month. During the month, the Corporation incurred direct materials cost of $56,600 and direct labor cost of $30,400. The actual manufacturing overhead cost incurred was $53,800. The manufacturing overhead cost applied to Work in Process was $52,600. The cost of goods manufactured for June was:
Work in Process
Bal. 30000 COGM *148600
Direct Material 56600
Direct Labor 30400
Applied manufacturing overhead 52600
Bal $21000
Explanation:
30000 + 56600 + 30400 +52600 – X = 21000
X = $148600