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PQR Manufacturing incurred the following costs during March: Item Amount ($) Direct Materials Used 544,000 Direct Labor 510,000 Manufacturing Overhead (Variable) 498,000 Manufacturing Overhead (Fixed)

  1. PQR Manufacturing incurred the following costs during March:
ItemAmount ($)
Direct Materials Used544,000
Direct Labor510,000
Manufacturing Overhead (Variable)498,000
Manufacturing Overhead (Fixed)506,000
Beginning Work in Process Inventory496,000
Ending Work in Process Inventory498,000
Beginning Finished Goods Inventory502,000
Ending Finished Goods Inventory504,000

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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