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RST Inc. incurred the following costs during March: Item Amount ($) Direct Materials Used 85,000 Direct Labor 54,000 Manufacturing Overhead (Variable) 42,000 Manufacturing Overhead (Fixed)

  1. RST Inc. incurred the following costs during March:
ItemAmount ($)
Direct Materials Used85,000
Direct Labor54,000
Manufacturing Overhead (Variable)42,000
Manufacturing Overhead (Fixed)50,000
Beginning Work in Process Inventory40,000
Ending Work in Process Inventory42,000
Beginning Finished Goods Inventory46,000
Ending Finished Goods Inventory48,000

Requirements: a) Determine 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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