In: Accounting
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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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 |