Question
The following information is available for the Manufacturing Company for the month ended July 31. Manufacturing Company uses an actual costing system (they do not
The following information is available for the Manufacturing Company for the month ended July 31. Manufacturing Company uses an actual costing system (they do not use predetermined overhead rates).
July 1 | July 31 | |
Work in process inventory | $9,800 | $11,300 |
Finished goods inventory | $2,400 | $22,260 |
The following costs were incurred in July for manufacturing and selling and administrative purposes:
Direct materials purchased and used | 50,000 |
Direct labor | 70,600 |
Factory supervisor's salary | 4,900 |
Office supplies expense | 1,100 |
Equipment Depreciation-factory | 9,100 |
Equipment Depreciation-office | 3,750 |
Sales salaries and commissions | 20,000 |
Office utilities | 2,400 |
Indirect labor | 8,000 |
1. Compute manufacturing overhead costs for the month.
2. Compute the cost of goods manufactured for the month. 3. Compute cost of goods sold for the month.
Type your 3 final answers (labeled) at the top. Then, show work below those (in numbers, not words-- show me your computations as briefly as possible so that I see what you included/excluded)
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