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The following information was extracted from Manuco.'s financial documents. Beginning raw materials inventory $55,000 Ending raw...

The following information was extracted from Manuco.'s financial documents.

Beginning raw materials inventory $55,000
Ending raw materials inventory $29,000
Beginning work-in-process inventory $23,000
Ending work-in-process inventory $60,000
Beginning finished goods inventory $30,000
Ending finished goods inventory $55,000
Raw materials purchased during the period $86,000
Total direct labor cost during the period $76,000
Total factory overhead cost during the period $18,000


Assuming that all raw materials are direct materials, calculate the cost of raw materials requisitioned, cost of goods manufactured, and cost of goods sold based on the provided information.

Required

Do not enter dollar signs or commas in the input boxes.

Round your answers to the nearest whole number.

Cost of raw materials requisitioned: $ Answer

Cost of goods manufactured: $ Answer

Cost of goods sold: $ Answer

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Solutions

Expert Solution

Computation of Cost of Direct materual Requistioned- Manuco
Beg Raw Material Inventory $55,000.00
Add: Raw Material Purchase $86,000.00
Less: Ending Raw Matrial -$29,000.00
Direct material Requstioned $112,000.00
Computation of Cost of Goods Manufactured
Raw Material Used $112,000.00
Labour Cost $76,000.00
Factory Overhead Cost $18,000.00
Manufactring Cost $206,000.00
Add: Beg WIP $23,000.00
Less: Ending WIP -$60,000.00
Cost of Goods Manufactured $169,000.00
Computation of Cost of Goods Sold- Manuco.
Beg Finished Goods Inventory $30,000.00
Add: Cost of Goods Manufactured $169,000.00
Less: Finished Goods Ending Inventory -$55,000.00
Cost of Goods Sold $144,000.00

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