Ask Question
10 December, 23:49

Calculate the cost of goods manufactured using the following information: Direct materials $ 299,300 Direct labor 132,800 Factory overhead costs 264,800 General and administrative expenses 86,300 Selling expenses 49,600 Work in Process inventory, January 1 119,300 Work in Process inventory, December 31 126,700 Finished goods inventory, January 1 232,900 Finished goods inventory, December 31 239,500

+3
Answers (1)
  1. 11 December, 01:37
    +1
    Cost of good manufactured = $1689500

    Explanation:

    To calculate the cost of manufactured goods we need to use the following formula:

    Cost of good manufactured = Beginning work in progress + direct materials of the period + direct labor + manufactured overhead - ending work in progress

    Beginning work in progress = $1119300

    Direct materials = beginning inventory + purchase - ending inventory = 299300

    Direct labor = 132800

    Manufactured overhead=264800

    Ending work in progress = 126700

    Cost of good manufactured = 1119300 + 299300 + 132800+264800-126700 = $1689500
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Calculate the cost of goods manufactured using the following information: Direct materials $ 299,300 Direct labor 132,800 Factory overhead ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers