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TUV Corporation incurred the following costs during June: Item Amount ($) Direct Materials Used 670,000 Direct Labor 636,000 Manufacturing Overhead (Variable) 624,000 Manufacturing Overhead (Fixed)

  1. TUV Corporation incurred the following costs during June:
ItemAmount ($)
Direct Materials Used670,000
Direct Labor636,000
Manufacturing Overhead (Variable)624,000
Manufacturing Overhead (Fixed)632,000
Beginning Work in Process Inventory622,000
Ending Work in Process Inventory624,000
Beginning Finished Goods Inventory628,000
Ending Finished Goods Inventory630,000

Requirements: a) Calculate Total Manufacturing Cost. b) Calculate Cost of Goods Manufactured. c) Calculate Cost of Goods Sold. d) Calculate Gross Profit. e) Prepare a Schedule of Cost of Goods Manufactured. f) Prepare a Schedule of Cost of Goods Sold. g) Prepare a Schedule of Gross Profit.

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