During its first year of operations, Brown Company incurred the following product costs: Direct materials used...
During its first year of operations, Brown Company incurred the following product costs:
Direct materials used in production $168,000
Direct labor $89,400
Manufacturing overhead $96,900
The Brown Company's ending Work in Process Inventory amounted to $32,000 at the end of the year. What is the company's cost of finished goods manufactured for the year?
Multiple Choice
-
$257,400.
-
$168,000.
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$354,300.
-
$322,300.
Homework Answers
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Cost of finished goods manufactured = Total manufacturing costs - Work in Process Inventory ending = (168,000+89,400+96,900) - 32,000 = 354,300 - 32,000 = 322,300 |
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During its first year of operations, Brown Company incurred the
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