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The Duerr Company manufactures a single product. All raw materials used are traceable to specific units...

The Duerr Company manufactures a single product. All raw materials used are traceable to specific units of product. Current information for the Duerr Company follows:

Beginning raw materials inventory $ 8,000
Ending raw materials inventory 11,000
Raw material purchases 85,000
Beginning work in process inventory 20,000
Ending work in process inventory 30,000
Direct labor 110,000
Total factory overhead 85,000
Beginning finished goods inventory 60,000
Ending finished goods inventory 40,000


The company's cost of raw materials used, cost of goods manufactured and cost of goods sold is:

  • Cost of Materials Used Cost of Goods Manufactured Cost of Goods Sold
    A. $85,000 $267,000 $247,000
  • B. $88,000 $267,000 $287,000
  • C. $82,000 $287,000 $247,000
  • D. $82,000 $267,000 $287,000
  • E. $88,000 $287,000 $267,000
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Answer #1

Cost of material used = beginning raw materials + purchase - ending raw materials

= $8000+85000-11000

= $82000

Cost of goods manufactured = direct material used + labor + overhead + beginning wirk in process - ending work in process

= 82000+110000+85000+20000-30000

= $267000

Cost of goods sold = cost of goods manufactured + Beginning finished goods - ending finished goods

= 267000+60000-40000

= $287000

Option D. is correct answer.

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