Answer:
$120,000
Explanation:
Step 1 Prepare a Cost of Manufacturing Schedule
Materials ($50000-$6,000) $44,000
Various utility and rent charges on factory $15,000
Salaries and Wages $60,000
Other Costs(Balancing figure) $35,000
Less Work in Process ($24,000)
Cost of Goods Manufactured $120,000
Step 2 Prepare a cost of Goods Sold Schedule
Opening inventory in Finished Goods $10,000
Add Cost of Goods Manufactured $120,000
Less Closing inventory in Finished Goods ($5,000)
Cost of Goods Sold $125,000
