Bidiyah Sugar Factory had the following data: Jan. 1, 2019 Dec. 31, 2019 Raw materials inventory...

Bidiyah Sugar Factory had the following data: Jan. 1, 2019 Dec. 31, 2019

Raw materials inventory RO 80,000 RO 64,000

Work in process inventory 104,000 116,000

Finished goods inventory 100,000 92,000

During 2019, the company purchased RO 1,450,000 of materials, had a direct labor costs of RO 250,000, and manufacturing overhead was RO160,000. The cost of goods manufactured is:

Select one:

a. 1,684,000

b. 1,864,000

c. 1,610,000

d. 410,000

e. None of the answers are correct

Expert Solution

The cost of goods manufactured is: b. 1,864,000
Statement showing cost of goods Manufactured
Particulars	Amount
Beginning inventory, raw materials	80,000.00
Plus: Purchases of raw materials	1,450,000.00
Raw materials available for use = Beg + Purchase	1,530,000.00
Less: Ending raw materials inventory	(64,000.00)
Cost of direct raw materials used	1,466,000.00
Add Direct Labor	250,000.00
Add Manufacturing overhead	160,000.00
Total manufacturing costs	1,876,000.00
Plus: Beginning work-in-process inventory	104,000.00
Total work in process	1,980,000.00
Less: Ending work-in-process inventory	(116,000.00)
Cost of Goods Manufactured	1,864,000.00

ekkarill92 answered 1 year ago

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