Question

The following data refer to Superior Metals Corporation for the year 20x4Raw-material inventory Purchases of raw material in Raw-material inventory $ 89,000 732,000 59,000 474,000 268,000 150,000 90,000 125,000 23,000 45,000 60,000 41,000 71,000 0 42,000 34,000 40,000 577,500 2,105,000 12/31/x3 20x4 12/31/x4 Direct-labor cost incurred Selling and administrative expenses Indirect labor cost incurred Property taxes on factory Depreciation on factory building Income tax expense Indirect material used Depreciation on factory equipment Insurance on factory and equipment Utilities for factory Work-in-process inventory 12/31/x3 12/31/x4 12/31/x3 12/31/x4 overhead Work-in-process inventory Finished-goods inventory, Finished-goods inventory, Applied manufacturing Sales revenueRequired: 1. How much of the manufacturing costs incurred during 20x4 remained associated with work-in-process inventory on December 31, 20x4? Manufacturing costs

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Answer #1

Calculate total manufacturing cost

Direct material
Beginning direct material 89000
Purchase material 732000
Less: Ending material -59000
Less: Indirect material -45000
Direct material used 717000
Direct labor 474000
Applied manufacturing overhead 577500
Total manufacturing Cost 1768500

So answer is $1768500

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