The following information is available for Tomlin Company.

April 1 April 30

Raw materials inventory $10,000 $14,400

Work in process inventory 4,830 3,290

Materials purchased in April $97,900

Direct labor in April 80,300

Manufacturing overhead in April 155,000

Prepare the cost of goods manufactured schedule for the month of April.

cost of goods manufactured = $330,340

Explanation:

Giving the following information:

April 1 April 30

Raw materials inventory $10,000 $14,400

Work in process inventory 4,830 3,290

Materials purchased in April $97,900

Direct labor in April 80,300

Manufacturing overhead in April 155,000

To calculate the cost of goods manufactured, we need to use the following formula:

cost of goods manufactured = beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

Direct material used = beginning inventory + purchases - ending inventory

Direct material used = 10,000 + 97,900 - 14,400 = $93,500

cost of goods manufactured = 4,830 + 93,500 + 80,300 + 155,000 - 3,290

cost of goods manufactured = $330,340