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ABC Manufacturing incurred the following costs during November: Item Amount ($) Direct Materials Used 320,000 Direct Labor 286,000 Manufacturing Overhead (Variable) 274,000 Manufacturing Overhead (Fixed)

  1. ABC Manufacturing incurred the following costs during November:
ItemAmount ($)
Direct Materials Used320,000
Direct Labor286,000
Manufacturing Overhead (Variable)274,000
Manufacturing Overhead (Fixed)282,000
Beginning Work in Process Inventory272,000
Ending Work in Process Inventory274,000
Beginning Finished Goods Inventory278,000
Ending Finished Goods Inventory280,000

Requirements: a) Calculate Total Manufacturing Cost. b) Calculate Cost of Goods Manufactured. c) Calculate Cost of Goods Sold. d) Calculate Gross Profit. e) Prepare a Schedule of Cost of Goods Manufactured. f) Prepare a Schedule of Cost of Goods Sold. g) Prepare a Schedule of Gross Profit.

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