Answer:
cost of goods manufactured= $440,300
Explanation:
<u>First, we need to determine the direct material used in production:</u>
Direct material used= beginning inventory + purchases - ending inventory
Direct material used= 53,200 + 210,000 - 58,100
Direct material used= $205,100
<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= 78,400 + 205,100 + 149,800 + 105,000 - 98,000
cost of goods manufactured= $440,300