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PQR Manufacturing incurred the following costs during March: Item Amount ($) Direct Materials Used 304,000 Direct Labor 270,000 Manufacturing Overhead (Variable) 258,000 Manufacturing Overhead (Fixed)

  1. PQR Manufacturing incurred the following costs during March:
ItemAmount ($)
Direct Materials Used304,000
Direct Labor270,000
Manufacturing Overhead (Variable)258,000
Manufacturing Overhead (Fixed)266,000
Beginning Work in Process Inventory256,000
Ending Work in Process Inventory258,000
Beginning Finished Goods Inventory262,000
Ending Finished Goods Inventory264,000

Requirements: a) Calculate Total Manufacturing Cost. b) Calculate Cost of Goods Manufactured. c) Calculate Cost of Goods Sold. d) Calculate Gross Profit. e) Prepare a Schedule of Cost of Goods Manufactured. f) Prepare a Schedule of Cost of Goods Sold. g) Prepare a Schedule of Gross Profit.

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