Answer:
cost of goods manufactured= $323,000
Explanation:
Giving the following information:
Conversion costs 221,000
Direct materials used 85,000
Beginning work in process 98,000
Ending work in process 81,000
<u>To calculate the cost of goods manufactured, we need to use the following formula:</u>
cost of goods manufactured= beginning WIP + direct materials used + direct labor + allocated manufacturing overhead - Ending WIP
Conversion costs= direct labor + allocated overhead
cost of goods manufactured= 98,000 + 85,000 + 221,000 - 81,000
cost of goods manufactured= $323,000