Question
Calculate the following costs: 1. Direct materials inventory 8/31/17 2. Fixed manufacturing overhead costs for august 2017 3. Direct manufacturing labor costs for august 2017
Calculate the following costs:
1. Direct materials inventory 8/31/17
2. Fixed manufacturing overhead costs for august 2017
3. Direct manufacturing labor costs for august 2017
4. Work-in-process inventory 8/31/17
5. Cost of finished goods available for sale in august 2017
6. Finished goods inventory 8/31/17
Direct materials inventory 8/1/2017 | $85 |
---|---|
Direct materials purchased | 355 |
Direct materials used | 375 |
Total manufacturing overhead costs | 490 |
Variable manufacturing overhead costs | 250 |
Total manufacturing costs incurred during August 2017 | 1,630 |
Work-in-process inventory 8/1/2017 | 230 |
Cost of goods manufactured | 1,650 |
Finished goods inventory 8/1/2017 | 160 |
Cost of goods sold | 1,710 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started