Question
The Moundsview Company provided you with the following information for the fiscal year ending on December 31: Work-in-process inventory, 12/31 $115,800 Finished goods inventory, 1/1
The Moundsview Company provided you with the following information for the fiscal year ending on December 31: Work-in-process inventory, 12/31 $115,800 Finished goods inventory, 1/1 614,800 Direct labor costs incurred 2,008,600 Manufacturing overhead costs 5,368,800 Direct materials inventory, 1/1 501,600 Finished goods inventory, 12/31 1,022,000 Direct materials purchased 3,500,400 Work-in-process inventory, 1/1 202,000 Direct materials inventory, 12/31 338,800 (a) Compute the total manufacturing costs incurred during the year. (b) Compute the total work-in-process during the year. (c) Compute the cost of goods manufactured during the year. (d) Compute the cost of goods sold during the year.
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