Question

Calculate the cost of goods manufactured using the following information: Direct materials used $ 298,700 Direct labor used 132,200 Factory overhead costs 264,200 General and administrative expenses 85,700 Selling expenses 49,000 Work in Process inventory, January 1 118,700 Work in Process inventory, December 31 126,100 Finished goods inventory, January 1 232,300 Finished goods inventory, December 31 238,900

Answer 1

Answer:$687,700

Step-by-step explanation:

$

Direct Materials 298,700

Add: Direct Labour 132,200

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Prime Cost 430,900

Factory Overhead 264,200

Add: Opening WIP 118,700

Less: Closing WIP 126,100

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256,800

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Cost of Good Manufacture 687,700

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