Answer:
cost of goods manufactured= $730,920
Explanation:
Giving the following information:
Materials $167,500 $149,080
Work in process 112,230 99,880
Direct labor $301,500
Materials purchased during March 321,600
Factory overhead incurred during March:
Indirect labor 32,160
Machinery depreciation 19,430
Heat, light, and power 6,700
Supplies 5,360
Property taxes 4,690
Miscellaneous costs 8,710
Total overhead= $77,050
<u>To calculate the cost of goods manufactured, we need to use the following formula:</u>
<u></u>
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
cost of goods manufactured= 112,230 + (167,500 + 321,600 - 149,080) + 301,500 + 77,050 - 99,880
cost of goods manufactured= $730,920
