Question
The following data are taken from the accounting records of Gregory Mfg. Co.: 2019 2018 Ending inventories: Materials $ 100,000 $80,000 Work in Process $64,000
The following data are taken from the accounting records of Gregory Mfg. Co.:
2019 2018
Ending inventories:
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 labor costs charged to production $270,000
Manufacturing Overhead $378,000
a)Prepare a statement of cost of goods manufactured for 2019 in good form.
b)The company generally prices products adding 20% to the cost of goods
sold.Determine the total revenue the company would have generated in
2019.Show your calculations.
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