Custom Designs

Please use the following data to determine the value of cost of goods sold that should be included within Custom Designs income statement.

Inventories Beginning Ending

Work in Process $120,000 $97,000

Finished Goods $118,000 $140,000

Additional Information

Direct Materials $310,000

Direct Labor $270,000

Labor Hours Worked 6,800 DLH

Estimated Labor Hours Worked 7,000 DLH

Manufacturing Overhead Incurred $254,000

Estimated Manufacturing Overhead $224,000