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STU Corporation gathered the following data for the month of April: Item Amount ($) Direct Materials Used 88,000 Direct Labor 56,000 Manufacturing Overhead (Variable) 44,000

  1. STU Corporation gathered the following data for the month of April:
ItemAmount ($)
Direct Materials Used88,000
Direct Labor56,000
Manufacturing Overhead (Variable)44,000
Manufacturing Overhead (Fixed)52,000
Beginning Work in Process Inventory42,000
Ending Work in Process Inventory44,000
Beginning Finished Goods Inventory48,000
Ending Finished Goods Inventory50,000

Requirements: a) Compute the Total Manufacturing Cost. b) Determine the Cost of Goods Manufactured. c) Find the Cost of Goods Sold. d) Calculate the Gross Profit. e) Construct 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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