Question

Current information for the Stellar Corporation follows: Beginning work in process inventory $ 29,900 Ending work in process inventory 31,300 Direct materials 159,000 Direct labor 97,000 Total factory overhead 75,100 Stellar Corporation's Cost of Goods Manufactured for the year is: Multiple Choice $331,100. $332,500. $361,000. $299,800. $329,700. Score answer

Answer 1

Answer: $329,700

Explanation:

GIVEN the following ;

Beginning work in process inventory = $29,900

Ending work in process inventory =$31,300

Direct materials =$159,000

Direct labor = $97,000

Total factory overhead =$75,100

Cost of goods manufactured = Beginning work in process inventory + (Direct materials + Direct labor + total factory overhead) - ending work in process inventory

Cost of goods manufactured = $29,900 + $(159,000 + 97,000 + 75,100) - $31,300

= $29,900 + $331,100 - $31,300

= $361,00 - $31,300 = $329,700

Answer 2

Answer:

$329,700

Explanation:

This can be calculated as follows:

Cost of Goods Manufactured = Direct materials + Direct labor + Total factory overhead + Beginning work in process inventory - Ending work in process inventory

Therefore, we have:

Cost of Goods Manufactured = $159,000 + $97,000 + $75,100 + $29,900 - $31,300 = $329,700