Question

The following information is available for Fuller Manufacturing Company for the month ending October 31:__________.

Cost of direct materials used in production $1,323,600
Direct labor 1,680,000
Work in process inventory, October 1 455,300
Work in process inventory, October 31 378,100
Total factory overhead 3,544,200
Determine Fuller Manufacturing's cost of goods manufactured for the month ended October 31.

Answer 1

Fuller Manufacturing's cost of goods manufactured for the month ended October 31 is $6,625,000.

Step-by-step explanation:

Prepare a Cost of Goods Manufactured Schedule as follows :

Direct Materials $1,323,600

Direct labor $1,680,000

Total factory overhead $3,544,200

Add Opening Work in process inventory $455,300

Less Closing Work in process inventory ($378,100)

Cost of Goods Manufactured $6,625,000