Cost of Goods Manufactured for a Manufacturing Company The following information is available for Ethtridge Manufacturing Company for the month ending July 31: Cost of direct materials used in production $1,150,000 Direct labor 966,000 Work in process inventory, July 1 316,400 Work in process inventory, July 31 355,500 Total factory overhead 490,500 Determine Ethtridge's cost of goods manufactured for the month ended July 31. Ethtridge Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended July 31 Work in process inventory, July 1 Add manufacturing costs incurred during July: Cost of direct materials used in production Direct labor 8 Factory overhead Total manufacturing costs incurred Total manufacturing costs Less work in process inventory, July 31 Cost of goods manufactured