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10 October, 14:42

Cougar Company uses job costing. The following information has been collected from Cougar Company's accounting records for the month of April: Direct materials requisitions used in production $160,000 Indirect materials added to Manufacturing Overhead 40,000 Direct labor time tickets 140,000 Indirect labor added to Manufacturing Overhead 65,000 Manufacturing overhead applied to production 200,000 Depreciation Expense added to Manufacturing Overhead 50,000 Work in Process Inventory on April 1 34,000 Work in process inventory on April 30 38,000 What is the cost of goods manufactured?

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  1. 10 October, 16:36
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    The cost of goods manufactured $ 651,000

    Explanation:

    Cost of Goods Manufactured = Direct Materials + Direct Labor + Manufacturing Overheads + Opening Work In Process - Closing Work In Process

    For Cougar Company Cost of Goods Manufactured is Calculated as follows;

    Direct materials 160,000

    Direct labor 140,000

    Prime Cost 300,000

    Indirect materials 40,000

    Indirect labor 65,000

    Manufacturing overhead 200,000

    Depreciation Expense 50,000

    Total Manufacturing Cost 655,00

    Add Opening Work In Process 34,000

    Less Closing Work In Process (38,000)

    Cost of goods manufactured 651,000
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