Using the following data for April, calculate the cost of goods manufactured. (Hint: Draw a Work...
Using the following data for April, calculate the cost of goods manufactured. (Hint: Draw a Work in Process T-Account on a piece of scratch paper, place the figures provided in the appropriate places, and solve for the unknown figure.)
Direct materials $23,000
Direct labor $21,000
Manufacturing overhead applied $37,000
Beginning work in process inventory $13,000
Ending work in process inventory $18,000
Homework Answers
Total manufacturing cost=Direct materials+Direct labor+Total overhead
=23000+21000+37000=$81000
Cost of goods manufactured=Beginning WIP+Total manufacturing cost-Ending WIP
=13000+81000-18000
=$76000
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