Question

​First, compute cost of goods manufactured. Schedule of Cost of Goods Manufactured Beginning Work-in-Process Inventory 38000 Direct Materials Used: Beginning Direct Materials 28000 Purchases of Direct Materials 70000 Direct Materials Available for Use 98000 Ending Direct Materials (33000) Direct Materials Used 65000 Direct Labor 80000 Manufacturing Overhead 38000 Total Manufacturing Costs Incurred during the Year 183000 Total Manufacturing Costs to Account For 145000 ▼ Cost of Goods Manufactured

Answer 1

Cost of manufactured period= $221000

Step-by-step explanation:

We need to calculate the production during the period.

Cost of manufactured period= Beginning work in progress inventory+ direct materials + direct labor + factory overhead - ending work in progress

Beginning work in progress= $38000

Cost of raw materials= beginning inventory + purchase - ending inventory= 28000 + 70000 - 33000= $65000

Direct labor= 80000

Manufactured overhead=38000

Ending work in progress= 0

Cost of manufactured period= 38000 + 65000 + 80000 + 38000= $221000