Answer:
Myles Manufacturing Company
Cost of Goods Sold = $2,700,000
Explanation:
Cost of Goods Sold:
Beginning Inventory of Raw Materials = $820,000
Purchase of Materials = $900,000
Less closing inventory of Raw Materials = $620,000
Cost of Raw Materials used in production = $1,100,000
Opening WIP = $220,000
Cost of Raw Materials used in production = $1,100,000
Direct Labour = $1,000,000
Manufacturing Overhead = $960,000
Less Closing WIP = $300,000
Cost of Goods Manufactured = $2,980,000
Opening Finished Goods = $100,000
Cost of Goods Manufactured = $2,980,000
Less closing Finished Goods = $380,000
Cost of Goods Sold = $2,700,000
