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DEF Manufacturing Company manufactures a single product. The following information is available for the month of October: - Direct materials used: $330,000 - Direct labor
DEF Manufacturing Company manufactures a single product. The following information is available for the month of October:
- Direct materials used: $330,000
- Direct labor cost: $305,000
- Variable manufacturing overhead: $275,000
- Fixed manufacturing overhead: $285,000
- Beginning finished goods inventory: $280,000
- Ending finished goods inventory: $290,000
- Beginning work in process inventory: $270,000
- Ending work in process inventory: $275,000
Requirements:
a) Calculate the total manufacturing cost.
b) Calculate the cost of goods manufactured.
c) Calculate the cost of goods sold.
d) Calculate the gross profit.
e) Prepare a schedule of cost of goods manufactured.
f) Prepare a schedule of cost of goods sold.
- Direct materials used: $330,000
- Direct labor cost: $305,000
- Variable manufacturing overhead: $275,000
- Fixed manufacturing overhead: $285,000
- Beginning finished goods inventory: $280,000
- Ending finished goods inventory: $290,000
- Beginning work in process inventory: $270,000
- Ending work in process inventory: $275,000
Requirements:
a) Calculate the total manufacturing cost.
b) Calculate the cost of goods manufactured.
c) Calculate the cost of goods sold.
d) Calculate the gross profit.
e) Prepare a schedule of cost of goods manufactured.
f) Prepare a schedule of cost of goods sold.
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