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KLM Manufacturing Company produces a single product. The following data is for the month of July: Direct materials used: $435,000 Direct labor cost: $410,000 Variable

  1. KLM Manufacturing Company produces a single product. The following data is for the month of July:
  • Direct materials used: $435,000
  • Direct labor cost: $410,000
  • Variable manufacturing overhead: $380,000
  • Fixed manufacturing overhead: $390,000
  • Beginning finished goods inventory: $385,000
  • Ending finished goods inventory: $395,000
  • Beginning work in process inventory: $375,000
  • Ending work in process inventory: $380,000

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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