Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Direct Materials Used, Cost of Goods Manufactured In September, Lauren Ashley Company purchased materials costing $200,000 and incurred direct labor cost of $110,000. Overhead totaled
Direct Materials Used, Cost of Goods Manufactured
In September, Lauren Ashley Company purchased materials costing $200,000 and incurred direct labor cost of $110,000. Overhead totaled $315,000 for the month. Information on inventories was as follows:
September 1 | September 30 | ||
Materials | $130,000 | $110,000 | |
Work in process | $90,000 | $60,000 | |
Finished goods | $75,000 | $75,000 |
Required:
1. What was the cost of direct materials used in September ? $
2. What was the total manufacturing cost in September ? $
3. What was the cost of goods manufactured for September ? $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
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