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6 June, 06:46

Use the following data to determine the cost of goods manufactured: Beginning finished goods inventory $ 12,300 Direct labor 32,100 Beginning work in process inventory 8,700 General and administrative expenses 15,000 Direct materials used 42,000 Ending work in process inventory 10,500 Indirect labor 7,800 Ending finished goods inventory 11,000 Indirect materials 15,000 Depreciation-factory equipment 9,000

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  1. 6 June, 07:17
    0
    Solution and Explanation:

    Total manufacturing heads = Indirect materials + Indirect labor + depreciation factory equipment

    = 15000 + 7800 + 9000 = $31800

    The cost of goods manufactured is as follows:

    Particulars Amount ($)

    Direct materials used 42000

    add: direct labor 32100

    add: manufacturing overheads 31800

    Manufacturing cost 105900

    add: begining goods in process

    inventory 8700

    less: ending goods in process

    inventory 10500

    Cost of goods manufactured 104100

    Thus, the cost of goods that are manufactured is $104100
  2. 6 June, 09:59
    0
    The Cost of Goods Manufactured is $104,100. By adding the direct material cost with the direct labor cost, factory overhead, beginning work in progress and deducting the value obtained from the ending work in process value we get the The Cost of Goods Manufactured

    Explanation:

    The information Given in the question is

    Beginning finished goods inventory

    $ 12,300

    Direct labor

    32,100

    Beginning work in process inventory

    8,700

    General and administrative expenses

    15,000

    Direct materials used

    42,000

    Ending work in process inventory

    10,500

    Indirect labor

    7,800

    Ending finished goods inventory

    11,000

    Indirect materials

    15,000

    Depreciation - factory equipment

    9,000

    So the formula for the

    Cost of Goods Manufactured = Direct Materials + Direct Labor + Factory Overhead + Beginning Work in Process - Ending Work in Process

    Cost of Goods Manufactured = $42,000 + $32,100 (Indirect Labor + Indirect Materials + Depreciation Factory Equipment) + $8,700 - $10,500

    Cost of Goods Manufactured = $42,000 + $32,100 + $7,800 + $15,000 + $9,000 + $8,700 - $10,500 = $104,100.

    So, the Cost of Goods Manufactured = $104,100.
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