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STU Manufacturing Company incurred the following costs during July: Item Amount ($) Direct Materials Used 768,000 Direct Labor 734,000 Manufacturing Overhead (Variable) 722,000 Manufacturing Overhead
- STU Manufacturing Company incurred the following costs during July:
Item | Amount ($) |
---|---|
Direct Materials Used | 768,000 |
Direct Labor | 734,000 |
Manufacturing Overhead (Variable) | 722,000 |
Manufacturing Overhead (Fixed) | 730,000 |
Beginning Work in Process Inventory | 720,000 |
Ending Work in Process Inventory | 722,000 |
Beginning Finished Goods Inventory | 726,000 |
Ending Finished Goods Inventory | 728,000 |
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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