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17 June, 15:17

Using the information below for Singing Dolls, Inc., determine cost of goods manufactured for the year:

Work in Process, January 1 $ 53,800

Work in Process, December 31 38,900

Total Factory overhead 7,400

Direct materials used 14,400

Direct labor used 28,400"

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Answers (1)
  1. 17 June, 17:05
    0
    COGS = $65,100

    Explanation:

    Giving the following information:

    Using the information below for Singing Dolls, Inc., determine cost of goods manufactured for the year:

    Work in Process, January 1 $ 53,800

    Work in Process, December 31 38,900

    Total Factory overhead 7,400

    Direct materials used 14,400

    Direct labor used 28,400

    cost of goods manufactured = beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

    cost of goods manufactured = 53,800 + 14,400 + 28,400 + 7,400 - 38,900 = 65,100

    COGS = beginning finished inventory + cost of goods manufactured - ending finished inventory

    COGS = $65,100
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Home » Business » Using the information below for Singing Dolls, Inc., determine cost of goods manufactured for the year: Work in Process, January 1 $ 53,800 Work in Process, December 31 38,900 Total Factory overhead 7,400 Direct materials used 14,400 Direct labor
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