Question
The following information is from ABC Company's general ledger: Beginning and ending inventories: raw materials were $16,000 and $20,000 work in process were $40,000 and
The following information is from ABC Company's general ledger: Beginning and ending inventories:
raw materials were $16,000 and $20,000
work in process were $40,000 and $44,000.
Raw material purchases and direct labor costs incurred were $72,000 each
manufacturing overhead applied amounted to $40,000.
Determine the total cost of goods manufactured during the period.
COGS = opening Inv + Purchases closing inventory
Total Manufacturing Cost = Direct Labor Cost + Direct Material Cost + Factory Overhead
| a. | $184,000 | |
| b. | $176,000 | |
| c. | $220,000 | |
| d. | $180,000 |
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Accounting What the Numbers Mean
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele
10th edition
9780077515904, 007802529X, 77515900, 978-0078025297
