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QRS Corporation gathered the following data for the month of April: Item Amount ($) Direct Materials Used 546,000 Direct Labor 512,000 Manufacturing Overhead (Variable) 500,000
- QRS Corporation gathered the following data for the month of April:
Item | Amount ($) |
---|---|
Direct Materials Used | 546,000 |
Direct Labor | 512,000 |
Manufacturing Overhead (Variable) | 500,000 |
Manufacturing Overhead (Fixed) | 508,000 |
Beginning Work in Process Inventory | 498,000 |
Ending Work in Process Inventory | 500,000 |
Beginning Finished Goods Inventory | 504,000 |
Ending Finished Goods Inventory | 506,000 |
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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