Homework Answers
Answer:
| Cost of materials used = Materials, September 1 + Materials purchased - Materials, September 30 |
| Cost of materials used = $120,000 + $190,000 - $130,000 |
| Cost of materials used = $180,000 |
| Manufacturing cost = Cost of materials used + Direct labor cost + Overhead cost |
| Manufacturing cost = $180,000 + $110,000 + $400,000 |
| Manufacturing cost = $690,000 |
| Cost of goods manufactured = Work in process, September 1 + Manufacturing cost - Work in process, September 30 |
| Cost of goods manufactured = $80,000 + $690,000 - $90,000 |
| Cost of goods manufactured = $680,000 |
| Cost of goods sold = Finished goods, September 1 + Cost of goods manufactured - Finished goods, September 30 |
| Cost of goods sold = $70,000 + $680,000 - $65,000 |
| Cost of goods sold = $685,000 |
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