Question

. For the month of August 2020, Best Corporation reported the following amounts: •Beginning direct materials inventory_ Indirect labour •Ending direct materials inventory Salaries of sales people *Ending finished goods -Factory supervisor's salary •Beginning finished goods inventory_ Maintenance on factory equipment •Ending work in process Sales Depreciation Utilities in sales facility Utilities in factory Direct material purchases •Beginning work-in-process inventory Direct labour $ 47,000 24,000 35,000 73,000 24,000 25,000 18,000 10,000 13,000 650,000 100,000 18,000 24,000 185,000 8,000 200,000 1. Compute total overhead 2. Compute DM used 3. Compute COGM 4. Compute COGS Note that your solution may take the form of a formal schedule of cost of good manufactured or of computations similar in format to that portrayed in the video for this module.

Answer 1

Solution: 47000 185000 Direct material used: Begining direct materials Add's Direct material purchase Ending Direct materials Total Raw materialused (2) (35000) less- Ending 197000 200000 Direct labor 10000 Depreciation 183000 Manufacturing overheads Indirect labor 24000 factory expervisor's salary 25000 maintenance on factory equipment ачоор utilities in factory Total manufacturing overhead (1) Total onanufacturing cost Add : Beginning work-In-Process Drventory Lesit Ending work in process Inventory cost of goods manufactured (3) Add Begining finished goode less Ending finished goods cost of goods sold (4) 580000 8000 (13000) 575000 18000 Quooo) 569000