Given the following dа ta: Cost of materials used $45,000 Direct labor costs 48,000 Factory overhead 39,000 Work in process, beginning 28,000 Work in process, ending 18,000 Finished goods, beginning 28,000 Finished goods, ending 18,000 What is cost of goods sold?

Question

Business

Kieran Liu

31 October, 08:17

Given the following dа ta: Cost of materials used $45,000 Direct labor costs 48,000 Factory overhead 39,000 Work in process, beginning 28,000 Work in process, ending 18,000 Finished goods, beginning 28,000 Finished goods, ending 18,000 What is cost of goods sold?

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Answers (1)

Know the Answer?

Laney Smith · Answer 1

The answer is $152,000

Explanation:

Cost of goods sold = Beginning Work in process plus Cost of materials plus Direct labor costs plus Factory overhead minus Ending work in process plus Beginning finished goods minus Ending finished goods.

$28,000 + $45,000 + $48,000 + $39,000 - $18,000 + $28,000 - $18,000

=$152,000

The cost of goods sold is therefore, $152,000