Question

8 pt X Company, a manufact Cure ncurre he following total costs during the year: Direct materials Direct labor Overhead The following additional information was available: $45,904 91.901 225,408 • Revenue for the year was $83,052. • Direct material purchases during the year were $34,174. Several jobs that cost a total of $15,085 were unfinished as of the • Several jobs that cost a total of $27,605 were finished during the year 085 were unfinished as of the end of the year. • There were no unfinished or finished jobs at the beginning of the years finished during the year but not sold. What was Cost of Goods Sold for the year? 1. AO $136,240 BO $181.199 CO $240.995 DO $320.523 EO $426,296 FO $566,970

Answer 1

Solution:

X Company
Computation of cost of goods Sold
Direct materials	$45,904
Direct Labor	$91,901
Overhead	$2,25,408
Total Manufacturing Costs	$3,63,213
Less: Cost of unfinished Jobs at end	$15,085
Cost of goods manufactured	$3,48,128
Less: Finished Jobs but not sold	$27,605
Cost of goods Sold	$3,20,523

Hence option D is correct.