Homework Problem Week $2$

The following information relates to the Toy Soldier Manufacturing Plant named Climb Company:

Inventory Values October$1$ October $31$

Direct Materials $135,000127,000$

Work In Progress $295,000320,000$

Finished Goods $167,00095,000$

Production Data for the Month of October:

Direct Labor $290,000$

Actual Factory Overhead $185,200$

Direct Materials Purchased $230,300$

Climb Company uses one factory over$-$head account and applies factory overhead to production at $70\%$ of direct labor cost. Over$-$and$-$Under applied overhead is not recognized until year end

Required:

$1.$ What is the total manufacturing cost for Climb Company during the month of Oct.?

$2.$ What is the cost of goods transferred to the Finished Goods Inventory during Oct.?

$3.$ What is the cost of goods sold for Oct.?