Homework Answers
Material consumed = Purchase + Beginning materials – Ending materials
= 160,000 + 120,000 – 130,000
= 150,000
Prime cost = Material consumed + Labor cost
= 150,000 + 130,000
= 280,000
Cost of manufacture = Prime cost + Overhead + Beginning WIP – Ending WIP
= 280,000 + 375,000 + 80,000 – 90,000
= 645,000
Cost of goods sold = Cost of manufacture + Beginning finished goods – Ending finished goods
= 645,000 + 70,000 – 65,000
= 650,000 (Answer)
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