Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Direct materials inventory, March 1, 2020 Direct materials purchased $ 90 345 Direct materials used 365 Total manufacturing overhead costs 485 Variable manufacturing overhead
Direct materials inventory, March 1, 2020 Direct materials purchased $ 90 345 Direct materials used 365 Total manufacturing overhead costs 485 Variable manufacturing overhead costs 270 Total manufacturing costs incurred during March 2020 1,570 Work-in-process inventory, March 1, 2020 215 Cost of goods manufactured 1,640 Finished-goods inventory, March 1, 2020 160 Cost of goods sold 1,740 Required Calculate the following costs: 1. Direct materials inventory, March 31, 2020 2. Fixed manufacturing overhead costs for March 2020 3. Direct manufacturing labor costs for March 2020 4. Work-in-process inventory, March 31, 2020 5. Cost of finished goods available for sale in March 2020 6. Finished goods inventory, March 31, 2020
Step by Step Solution
There are 3 Steps involved in it
Step: 1
To calculate the required costs we need to use the given information and apply the appropriate cost ...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started