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17 June, 21:25

Glenville Company has the following information for April: Cost of direct materials used in production $50,000 Direct labor 56,000 Factory overhead 35,000 Work in process inventory, April 1 39,000 Work in process inventory, April 30 34,000 Finished goods inventory, April 1 25,000 Finished goods inventory, April 30 17,000 a. For April, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured.

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  1. 17 June, 22:21
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    Answer and Explanation:

    The preparation of Cost of Goods Manufactured is shown below:

    Glenville Company

    Statement of Cost of Goods Manufactured

    Work in progress inventory April, 1 $39,000

    Cost of direct materials used in production $50,000

    Direct labor $56,000

    Factory overhead $35,000

    Total manufacturing cost incurred in April $141,000

    Total manufacturing cost $180,000

    Work in progress inventory April, 30 $34,000

    Cost of goods manufactured $146,000

    ($180,000 - $34,000)
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