Lompac Products manufactures a variety of products in its factory. Data for the most recent months operations
Question:
Lompac Products manufactures a variety of products in its factory. Data for the most recent month’s operations appear below:
Beginning raw materials inventory ……………. $ 60, 000
Purchases of raw materials …………………..….. $360,000
Ending raw materials inventory ………………... $ 45,000
Direct labor…………………………………….............. $135,000
Manufacturing overhead………………………....... $370,000
Beginning work in process inventory………….. $120,000
Ending work in process inventory……………...… $130,000
Required:
Prepare a schedule of cost of goods manufactured for the company for the month.
Step by Step Answer:
Managerial Accounting
ISBN: 978-0697789938
13th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer