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TUV Manufacturing Company incurred the following costs during the month of October: Item Amount ($) Direct Materials Used 150,000 Direct Labor 116,000 Manufacturing Overhead (Variable)

  1. TUV Manufacturing Company incurred the following costs during the month of October:
ItemAmount ($)
Direct Materials Used150,000
Direct Labor116,000
Manufacturing Overhead (Variable)104,000
Manufacturing Overhead (Fixed)112,000
Beginning Work in Process Inventory102,000
Ending Work in Process Inventory104,000
Beginning Finished Goods Inventory108,000
Ending Finished Goods Inventory110,000

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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