During the year, a manufacturing company had the following operating results: Beginning work-in-process inventory $ 45,000...
During the year, a manufacturing company had the following
operating results:
| Beginning work-in-process inventory | $ | 45,000 | |
| Beginning finished goods inventory | $ | 190,000 | |
| Direct materials used in production | $ | 308,000 | |
| Direct labor | $ | 475,000 | |
| Manufacturing overhead incurred | $ | 250,000 | |
| Ending work-in-process inventory | $ | 67,000 | |
| Ending finished goods inventory | $ | 89,000 | |
What is the cost of goods manufactured for the year?
A. $1,112,000
B. $1,134,000
C. $1,033,000
D. $1,011,000
Homework Answers
Total manufacturing cost=Direct materials+Direct labor+Manufacturing overhead
=(308000+475000+250,000)=$1,033,000
Cost of goods manufactured=Total manufacturing cost+Beginning WIP-Ending WIP
=(1,033,000+45000-67000)
=$1,011,000.
Add Answer to:
During the year, a manufacturing company had the following
operating results:
Beginning work-in-process inventory
$
45,000...
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