Answer:
cost of goods manufactured= $218,400
COGS= $210,400
Explanation:
<u>To calculate the cost of goods manufactured, we need to use the following formula:</u>
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cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
cost of goods manufactured= 17,800 + (25,800 + 72,800 - 21,800) + 92,800 + 41,800 - 10,800
cost of goods manufactured= $218,400
<u>Now, we can determine the cost of goods sold:</u>
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 48,800 + 218,400 - 56,800
COGS= $210,400
