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STU Manufacturing Company incurred the following costs during July: Item Amount ($) Direct Materials Used 168,000 Direct Labor 134,000 Manufacturing Overhead (Variable) 122,000 Manufacturing Overhead

  1. STU Manufacturing Company incurred the following costs during July:
ItemAmount ($)
Direct Materials Used168,000
Direct Labor134,000
Manufacturing Overhead (Variable)122,000
Manufacturing Overhead (Fixed)130,000
Beginning Work in Process Inventory120,000
Ending Work in Process Inventory122,000
Beginning Finished Goods Inventory126,000
Ending Finished Goods Inventory128,000

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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