On a piece of paper make a statement of Cost of Goods Manufactured and find TWO...
On a piece of paper make a statement of Cost of Goods Manufactured and find TWO correct answers. Direct materials $30,000. Direct Labor $15,000. Manufacturing Overhead $5000. Beginning work in process $10000. Ending work in process $2000
|
total manufacturing costs are $50,000 |
||
|
total cost of goods manufactured is $58,000 |
||
|
total manufacturing costs are $58,000 |
||
|
total cost of goods manufactured is $52,000 |
||
|
total manufacturing costs are $42000 |
Homework Answers
| Answer |
| Explanation : |
| Total manufacturing cost = Direct Material + Direct labor + Manufacturing Overhead |
| = $30,000+$15,000+$5,000 |
| = $50,000 |
| So, Total manufacturing costs are $50,000 |
| Cost of goods manufactured = Manufacturing cost + Beginning work in process inventory – ending work in process inventory |
| = $50,000+ $10,000 - $2,000 |
| = $58,000 |
| So, Total cost of goods manufactured is $58,000 |
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