Ask Question
17 May, 14:30

Raw materials inventory, beginning$1,200 Raw materials inventory, ending1,400 Work in process inventory, beginning7,100 Work in process inventory, ending6,800 Raw materials acquired27,800 Cost of direct materials used in production27,600 Sales commissions to sell clackers2,100 Direct labor cost20,000 Total manufacturing overhead28,900 How much is cost of goods manufactured for June

+3
Answers (1)
  1. 17 May, 16:44
    0
    76,800

    Explanation:

    Given that,

    Raw materials inventory, beginning = $1,200

    Raw materials inventory, ending = 1,400

    Work in process inventory, beginning = 7,100

    Work in process inventory, ending = 6,800

    Raw materials acquired = 27,800

    Cost of direct materials used in production = 27,600

    Sales commissions to sell clackers = 2,100

    Direct labor cost = 20,000

    Total manufacturing overhead = 28,900

    Cost of goods manufactured is determined the overall value of goods produced during a particular year and it is ready for sale. It includes all of the expenses that are incurred to convert the inventory in process into finished goods.

    Cost of goods manufactured in June:

    = Cost of direct material used in production + Direct Labor cost + Manufacturing Overhead + (Beginning work in process - Ending work in process Ending)

    = 27,600 + 20,000 + 28,900 + (7,100 - 6,800)

    = 76,800
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Raw materials inventory, beginning$1,200 Raw materials inventory, ending1,400 Work in process inventory, beginning7,100 Work in process ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers