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Svetradugi [14.3K]
3 years ago
12

Cost of Goods Sold, Cost of Goods Manufactured Glenville Company has the following information for April: Cost of direct materia

ls used in production $280,000 Direct labor 324,000 Factory overhead 188,900 Work in process inventory, April 1 72,300 Work in process inventory, April 30 76,800 Finished goods inventory, April 1 39,600 Finished goods inventory, April 30 41,200 a. For April, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured. Glenville Company Statement of Cost of Goods Manufactured
Business
1 answer:
Leya [2.2K]3 years ago
6 0

Answer:

cost of goods manufactured= $788,400

Explanation:

Giving the following information:

Cost of direct materials used in production $280,000

Direct labor 324,000

Factory overhead 188,900

Work in process inventory, April 1 72,300

Work in process inventory, April 30 76,800

<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= 72,300 + 280,000 + 324,000 + 188,900 - 76,800

cost of goods manufactured= $788,400

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\left[\begin{array}{ccccc}& &September&October&November\\&$sales&6000&6800&5600\\&$Desired ending&4760&3920&4270\\&$Total Needs&10760&10720&9870\\&$beginning&4200&4760&3920\\&$Production Requirement&6560&5960&5950\\\end{array}\right]

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