Question

Use the cost information below for Sundar Company to determine the total manufacturing costs added during the current year:

Answer 1

Answer:

cost of goods manufactured= $98,000

Explanation:

Giving the following information:

Direct materials used $19,000

Direct labor used 24,500

Factory overhead 55,100

Beginning work in process inventory 10,700

Ending work in process inventory 11,300

To calculate the cost of goods manufactured, we need to use the following formula:

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

cost of goods manufactured=  10,700 + 19,000 + 24,500 + 55,100 -11,300

cost of goods manufactured= $98,000