Calculation Drill #7 Given the information below, calculate Cost of Goods Manufactured $ 60,000 Ending Raw Materials Beginning Raw Materials $ 30,000 Manufacturing Overhead $ 20,000 Direct Labor Used Raw Material Purchases $ 45,000 $ 105,000 Beginning Work in Process $ 26,000 Ending Work in Process $ 110,000 Item Ending Finished Goods Inventory Grimes Manufacturing, Inc. Grimes Manufacturing, Inc. produces chains and shackles in its f Below are cost items for consideration. factory Dollars Grimes Manufacturing, Inc. (continued) 1. What is the cost of direct materials used? 150,000 100,000 Direct Labor 2. What is the cost of manufacturing overhead? Raw Material Purchases Beginning Finished Goods Inventory 60,000 60,000 3. What is the total cost of work in process? Beginning Raw Materials 40,000 Ending Work in Process 30,000 Beginning Work in Process 20,000 Ending Raw Materials 20,000 4. What are the total manufacturing costs? 20,000 Factory Repairs 13,000 Factory Utilities 12,000 5. What is the cost of goods manufactured? Factory Insurance Depreciation on Factory Building 10,000 Factory Supervisor Salary 6,000 6. What is the cost of goods sold? 154 155 Calculation Drill #3 Fill in the missing amounts for each column. A B C D E 1 Alpha Beta Delta Zeta 2 Direct Materials Used $100 $500 100 $700 3 Direct Labor Used $200 $100 $800 4 Manufacturing Overhead $300 $200 $700 5 Total Manufacturing Costs $1,500 $1,000 6 Beginning Work in Process $700 $300 $800 $1,000 7 Total Cost of Work in Process $1,300 $2,700 8 9 Ending Work in Process Cost of Goods Manufactured $400 $700 $900 $1,100 $1,200 158 Raw Dire Dir Ma Give