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TUV Corporation incurred the following costs during October: Item Amount ($) Direct Materials Used 630,000 Direct Labor 596,000 Manufacturing Overhead (Variable) 584,000 Manufacturing Overhead (Fixed)

  1. TUV Corporation incurred the following costs during October:
ItemAmount ($)
Direct Materials Used630,000
Direct Labor596,000
Manufacturing Overhead (Variable)584,000
Manufacturing Overhead (Fixed)592,000
Beginning Work in Process Inventory582,000
Ending Work in Process Inventory584,000
Beginning Finished Goods Inventory588,000
Ending Finished Goods Inventory590,000

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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