Question

Cost of Goods Sold, Cost of Goods Manufactured Glenville Company has the following information for April: Cost of direct materials used in production 33,000 Direct labor Factory overhead Work in process inventory, April 1 Work in process inventory, April 30 Finished goods inventory, April 1 Finished goods inventory, April 30 a. For April, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured. 47,000 36,000 20,000 30,000 25,000 19,000 Glenville Company Statement of Cost of Goods Manufactured Total manufacturing costs incurred in April

Answer 1

Ans. (a)	Glenville Company
	Statement of Cost of Goods Manufactured
	Particulars				Amt. ($)
	Direct Material Used				33,000
	Direct Labour				47,000
	Factory Overhead				36,000
	Total Manufacturing Cost				$        116,000
	Begginning Work in progress, April 1				20,000
	Less: Closing Work in progress, April 30				(30,000)
	Cost of Goods Manufactured				$        106,000
Ans. (b)	Glenville Company
	Statement of Cost of Goods Sold
	Particulars				Amt. ($)
	Finished Good Inventory, April 1				25,000
	Cost of Goods Manufactured				106,000
	Cost of Goods Available for sale				$        131,000
	Less: Finished Good Inventory, April 30				19,000
	Cost of Goods Sold				$        112,000