Two items are omitted from each of the following three lists of cost of goods manufactured statement data. Determine the amounts of the missing items, identifying them by letter.
Work in process inventory, December 1 | $3,400 | $27,500 | (e) | ||
Total manufacturing costs incurred during December | 25,200 | (c) | 161,500 | ||
Total manufacturing costs | (a) | $321,800 | $175,300 | ||
Work in process inventory, December 31 | 5,400 | 67,600 | (f) | ||
Cost of goods manufactured | (b) | (d) | $147,300 |
a. | $ |
b. | $ |
c. | $ |
d. | $ |
e. | $ |
f. | $ |
we know that,
Total Manufacturing costs=beginning work in process inventory+total Manufacturing cost incurred during the month
Cost of goods manufactured=total Manufacturing cost - ending work in process inventory
Therefore
Work in process inventory, December 1 | $3400 | $27500 | (e)$13800 |
Total Manufacturing cost incurred during December | $25200 | (c)$294300 | $161500 |
Total Manufacturing cost | (a)$28600 | $321800 | $175300 |
WORK IN PROCESS, December 31 | $5400 | $67600 | (f)$28000 |
Cost of goods manufactured | (b)$23200 | (d)$254200 | $147300 |
(a) total Manufacturing cost= beginning work in process+total Manufacturing cost incurred during December
= $3400+$25200=$28600
(b) cost of goods manufactured= total Manufacturing cost- ending work in process inventory December 31
= $28600 - $5400=$2320
(C) total Manufacturing cost incurred during December=total Manufacturing cost - beginning work in process inventory
=$321800 - $27500 = $294300
(d) cost of goods manufactured= total Manufacturing cost - ending work in process inventory Dec 31
= $321800 - $67600 =$254200
(e) work in process inventory December 1= total Manufacturing cost - total Manufacturing cost incurred during December
= $175300 - $161500 = $13800
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(f) ending work in process inventory December 31= total Manufacturing cost - cost of goods manufactured
=$175300 - $147300 = $28000
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