Use the following information to compute the cost of goods manufactured. Assume that all raw materials...

Use the following information to compute the cost of goods manufactured. Assume that all raw materials used were traceable to specific units of product:


Beginning raw materials	$	5,500
Ending raw materials		4,000
Direct labor		12,250
Raw material purchases		7,400
Depreciation on factory equipment		6,500
Factory repairs and maintenance		3,300
Beginning finished goods inventory		10,200
Ending finished goods inventory		8,900
Beginning work in process inventory		5,700
Ending work in process inventory		6,300

		$31,650.
		$30,650.
		$36,650.
		$30,950.
		$30,350.

Expert Solution

Correct Option A i.e. $31650

Computation of Cost of Goods manufactured

Opening WIP Inventory	5,700
Add: Finished Goods Opening Inventory	10,200
Add: Material Used	8,900	(See Note Below)
Add: LABOUR COST	12,250
Add: plant depreciation	6,500
Add: Factory repair and maintenance	3,300
Less: WIP inventory	(6,300)
Less: Finished Goods Inventory	(8,900)

COST OF GOODS MANUFACTURED	31,650


Note: Computation of raw material used

Beginning Material	5,500
Add: Material Purchase	7,400
Less: Ending Material	(4,000)

Material Used	8,900

ekkarill92 answered 1 year ago

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