Question

Swifty corporation has beginning and ending work in process inventories of $190000 and $205000 respectively. if total manufacturing costs are $680000, what is the total cost of goods manufactured?

Answer 1

Swifty corporation has a beginning and ending work in process inventories of $190000 and $205000 respectively. if total manufacturing costs are $680000 then the total cost of goods manufactured will be  (Manufacturing cost + Begining work cost - Ending work cost) i.e., $680000 + $190000 - $205000 = $665000.

Manufacturing cost is the sum of fees of all sources eaten up inside the process of creating a product. the production cost is assessed into three categories: direct materials value, direct labor cost, and production overhead. it's miles an issue in the total shipping cost.

manufacturing cost play a critical part in the successful design and manufacture of a product. based on the version of delivered value, the production charges must be much less than the cost added to allow a profit to be made. therefore, the cost of the design and manufacture of a product is vital in ensuring fulfillment.

And we can genuinely speak about the factors that force the producing expenses of your challenge — matters like the fee of uncooked substances, exertions costs, overhead, earnings margin, and the forms of manufacturing procedure your product requires.

the producing price is classed into three categories: direct substances fee, direct exertions value, and production overhead.

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