Homework Answers
Cost of goods manufactured is derived by following
| (1) Raw material used |
| (2) Direct labor |
| (3) Factory overheads |
| Total Manufacturing costs |
| Add: Beginning work in process |
| Less: Ending work in process |
| Cost of goods manufactured |
Beginning Finished goods inventory is added to cost of goods manufactured and ending finished goods inventory is deducted to derive cost of goods sold.
Hence, from above we can see that
(A) Manufacturing overhead (C) Direct material used (D) Beginning work in process are part of cost of goods manufactured calculation
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