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The following data are taken from the accounting records of Gregory Mfg Co: 2016 2015 Ending inventories: $ $ Raw materials 100,000 80,000 Work in
The following data are taken from the accounting records of Gregory Mfg Co:
2016 | 2015 | |
Ending inventories: | $ | $ |
Raw materials | 100,000 | 80,000 |
Work in Process | 64,000 | 56,000 |
Finished Goods | 140,000 | 170,000 |
Manufacturing goods: | |
Direct materials used | $657,000 |
Direct labour cost charged to production | 270,000 |
Manufacturing overhead | 378,000 |
Required:
1a. Compute the raw materials Purchased.
1b. Compute the total manufacturing cost charged to production (work in process account).
1c. Compute the cost of finished goods manufactured
1d. Compute the cost of goods sold.
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