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Usimov [2.4K]
3 years ago
11

Calculate the cost of goods manufactured using the following information: Direct materials used $ 298,700 Direct labor used 132,

200 Factory overhead costs 264,200 General and administrative expenses 85,700 Selling expenses 49,000 Work in Process inventory, January 1 118,700 Work in Process inventory, December 31 126,100 Finished goods inventory, January 1 232,300 Finished goods inventory, December 31 238,900
Business
1 answer:
Citrus2011 [14]3 years ago
8 0

Answer:$687,700

Explanation:

                                      $

Direct Materials      298,700

Add: Direct Labour  132,200

                                 --------------

Prime Cost                                    430,900

Factory Overhead      264,200

Add: Opening WIP      118,700

Less: Closing WIP       126,100

                                    --------------

                                                         256,800

                                                        --------------

Cost of Good Manufacture              687,700

                                                         ----------------

   

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