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McGown Corp. has the following information: Beginning Inventory (1/1) Ending Inventory (12/31) Raw Materials Inventory $ 20,000 $ 30,000 Work in Process Inventory $ 15,000
McGown Corp. has the following information:
| Beginning Inventory (1/1) | Ending Inventory (12/31) | |||||
| Raw Materials Inventory | $ | 20,000 | $ | 30,000 | ||
| Work in Process Inventory | $ | 15,000 | $ | 18,000 | ||
| Finished Goods Inventory | $ | 30,000 | $ | 20,000 | ||
Additional information for the year is as follows:
| Raw materials purchases | $ | 100,000 |
| Direct labor | $ | 75,000 |
| Manufacturing overhead applied | $ | 80,000 |
| Indirect materials | $ | 0 |
Compute the cost of goods manufactured.
$242,000
$235,000
$248,000
$265,000
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