A manufacturer operates on a job costing basis (i.e. only ONE Work in Process - WIP - Account and all costs are traceable) The company has recorded the following for a single month of production: Raw Materials - Opening Balance: $10614, Purchases $48543 and has a Closing Balance of $13397 WIP Information: Conversion costs incurred this period include: Opening balance of WIP was $41851, DL $38164 and OHDs $36601 and the closing balance of WIP was $23722 Finished Goods information: Opening Balance of FG was $55473 and the closing balance was $64134 Required: Trace all costs through to calculate the Cost of Goods Manufactured this month Answer: A manufacturer operates on a job costing basis (i.e. only ONE Work in Process - WIP - Account and all costs are traceable) The company has recorded the following for a single month of production: Raw Materials - Opening Balance: $10614, Purchases $48543 and has a Closing Balance of $13397 WIP Information: Conversion costs incurred this period include: Opening balance of WIP was $41851, DL $38164 and OHDs $36601 and the closing balance of WIP was $23722 Finished Goods information: Opening Balance of FG was $55473 and the closing balance was $64134 Required: Trace all costs through to calculate the Cost of Goods Manufactured this month Answer: