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Effectus [21]
3 years ago
11

Calculate the cost of goods manufactured using the following information: Direct materials used $ 300,400 Direct labor used 133,

900 Factory overhead costs 265,900 General and administrative expenses 87,400 Selling expenses 50,700 Work in Process inventory, January 1 120,400 Work in Process inventory, December 31 127,800 Finished goods inventory, January 1 234,000 Finished goods inventory, December 31 240,600
Business
1 answer:
posledela3 years ago
4 0

Answer:

cost of goods manufactured= $692,800

Explanation:

<u>To calculate the cost of goods manufactured, we need to use the following formula:</u>

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 120,400 + 300,400 + 133,900 + 265,900 - 127,800

cost of goods manufactured= $692,800

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