Cost of Goods Manufactured Morning Smiles Coffee Company manufactures Stoneware French Press coffee makers. During the month of March, the company purchased $350,000 of materials. Also during the month of March, Morning Smiles incurred direct labor cost of $74,000 and manufacturing overhead of $190,000. Inventory information is as follows: March 1 March 31 Materials $25,000 $40,000 Work in process 55,000 46,500 Required: 1. Calculate the cost of goods manufactured for the month of March. 2. Calculate the cost of one coffee maker assuming that 8,100 coffee makers were completed during March. per unit Feedback Check My Work 1. The formula for Cost of goods manufactured is: Beginning WIP + Manufacturing costs - Ending WIP Manufacturing costs include Direct materials used (Beginning materials + Purchases - Ending materials), Direct labor, and Overhead. 2. Divide cost of goods manufactured by the number of units completed