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STU Manufacturing Company produces a single product. The following data pertains to the month of July: Direct materials cost: $675,000 Direct labor cost: $650,000 Variable
- STU Manufacturing Company produces a single product. The following data pertains to the month of July:
Direct materials cost: $675,000
Direct labor cost: $650,000
Variable manufacturing overhead: $620,000
Fixed manufacturing overhead: $630,000
Beginning finished goods inventory: $625,000
Ending finished goods inventory: $635,000
Beginning work in process inventory: $615,000
Ending work in process inventory: $620,000
Requirements:
a) Calculate the total manufacturing cost.
b) Calculate the cost of goods manufactured.
c) Calculate the cost of goods sold.
d) Calculate the gross profit.
e) Prepare a schedule of cost of goods manufactured.
f) Prepare a schedule of cost of goods sold.
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