Answer:
cost of goods manufactured= $336,980
Explanation:
<u>First, we need to calculate the direct material used:</u>
Direct material used= beginning inventory + purchases - ending inventory
Direct material used= 10,500 + 98,100 - 13,500
Direct material used= $95,100
<u>Now, the cost of goods manufactured:</u>
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
cost of goods manufactured= 5,350 + 95,100 + 80,300 + 160,000 - 3,770
cost of goods manufactured= $336,980
