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QRS Manufacturing Company produces a single product. The following data pertains to the month of September: Direct materials cost: $565,000 Direct labor cost: $540,000 Variable
QRS Manufacturing Company produces a single product. The following data pertains to the month of September:
Direct materials cost: $565,000
Direct labor cost: $540,000
Variable manufacturing overhead: $510,000
Fixed manufacturing overhead: $520,000
Beginning finished goods inventory: $515,000
Ending finished goods inventory: $525,000
Beginning work in process inventory: $505,000
Ending work in process inventory: $510,000
Requirements:
a) Calculate the total manufacturing cost.
b) Calculate the cost of goods manufactured.
c) Calculate the cost of goods sold.
d) Calculate the gross profit.
e) Prepare a schedule of cost of goods manufactured.
f) Prepare a schedule of cost of goods sold.
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