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TUV Manufacturing Company incurred the following costs during the month of October: Item Amount ($) Direct Materials Used 150,000 Direct Labor 116,000 Manufacturing Overhead (Variable)
- TUV Manufacturing Company incurred the following costs during the month of October:
Item | Amount ($) |
---|---|
Direct Materials Used | 150,000 |
Direct Labor | 116,000 |
Manufacturing Overhead (Variable) | 104,000 |
Manufacturing Overhead (Fixed) | 112,000 |
Beginning Work in Process Inventory | 102,000 |
Ending Work in Process Inventory | 104,000 |
Beginning Finished Goods Inventory | 108,000 |
Ending Finished Goods Inventory | 110,000 |
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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