Question
McMahon Corporation has provided the following data regarding last months operations: Direct materials 23,000 Direct labor 58,000 Manufacturing overhead applied to Work in Process 92,000
McMahon Corporation has provided the following data regarding last months operations:
Direct materials 23,000
Direct labor 58,000
Manufacturing overhead applied to Work in Process 92,000
Begin End
Work in Process (WIP) Inventory 56,000 69,000
Finished Goods Inventory 33,000 36,000
Complete the following table to calculate the Cost of Goods Sold:
Direct materials |
|
+ Direct labor |
|
+ Manufacturing overhead applied to WIP |
|
Total manufacturing costs |
|
Add: Beginning WIP |
|
Less: Ending WIP |
|
Cost of Goods Manufactured |
|
|
|
Beginning Finished Goods Inventory |
|
Add: Cost of Goods Manufactured |
|
Less: Ending Finished Goods Inventory |
|
Cost of Goods Sold |
|
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