Answer:
During the year, the company added cost for 49,300
And finished goods for 63,900
Explanation:
The total cost has three main components, direct materials, direct labor and overhead. Those are the cost the company add through the period.
This along with the beginning inventory of WIP will be the total cost to be accounted for.
This can become finished good or remain at Work in process at the end of the period, therefore we can solve for cost of goods manufactured (finished goods) by subtracting the ending WIP from the total cost to be accounted.
Beginning Work in Process 53,200
Cost added during the period:
Direct materials 14,100
Direct Labor 28,100
Manufacturing Overhead <u> 7,100 </u>
Total Cost added during the period 49,300
Ending Work in Process (38,600)
Cost of good manufactured 63,900
