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TUV Corporation incurred the following costs during October: Item Amount ($) Direct Materials Used 630,000 Direct Labor 596,000 Manufacturing Overhead (Variable) 584,000 Manufacturing Overhead (Fixed)
- TUV Corporation incurred the following costs during October:
Item | Amount ($) |
---|---|
Direct Materials Used | 630,000 |
Direct Labor | 596,000 |
Manufacturing Overhead (Variable) | 584,000 |
Manufacturing Overhead (Fixed) | 592,000 |
Beginning Work in Process Inventory | 582,000 |
Ending Work in Process Inventory | 584,000 |
Beginning Finished Goods Inventory | 588,000 |
Ending Finished Goods Inventory | 590,000 |
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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