Question

For the month of August 2020. Best Corporation reported the following amounts: 1 Beginning direct materials inventory $ 47,000 Indirect labour 24,000 Ending direct materials inventory 35,000 Salaries of sales people 73,000 Ending finished goods 24,000 Factory supervisor's salary 25,000 Beginning finished goods inventory 18,000 Maintenance on factory equipment 10,000 Ending work in process 13,000 Sales 650,000 Depreciation 100,000 Utilities in sales facility 18,000 Utilities in factory 24,000 Direct material purchases 185,000 Beginning work-in-process inventory 8,000 Direct labour 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

47000 18 ooo |(35000) Direct material used Begining Direct Materials Add", Direct Material Purchase Less, Ending Direct Materials Total Raw material used (2) Direct Labour Manufacturing overbread 197000 200000 24000 2 1090 10 000 (19000 240.00 183008 580000 Indirect labour factory supervisor's salary maintenance ou factory equipment Depreciation utilities in factory Total Manufacturing overhead (1) Total Manufacturing cost Beggining work-in-process inventory en Euding work-in-process inventory Cost of goods Manufactured (3) Add", Begining finished goods Less; Euding finished goods cost of goods sold (4) 8000 Add", (13000 575000 18 900 124900) 569000