STU Manufacturing Company incurred the following costs during March: Item Amount ($) Direct Materials Used 688,000 Direct
Fantastic news! We've Found the answer you've been seeking!
Question:
- STU Manufacturing Company incurred the following costs during March:
| Item | Amount ($) |
|---|---|
| Direct Materials Used | 688,000 |
| Direct Labor | 654,000 |
| Manufacturing Overhead (Variable) | 642,000 |
| Manufacturing Overhead (Fixed) | 650,000 |
| Beginning Work in Process Inventory | 640,000 |
| Ending Work in Process Inventory | 642,000 |
| Beginning Finished Goods Inventory | 646,000 |
| Ending Finished Goods Inventory | 648,000 |
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.
Expert Answer:
Posted Date:
