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TUV Manufacturing Company manufactures a single product. The following information is available for the month of December: Direct materials used: $1,180,000 Direct labor cost: $1,155,000

  1. TUV Manufacturing Company manufactures a single product. The following information is available for the month of December:
  • Direct materials used: $1,180,000
  • Direct labor cost: $1,155,000
  • Variable manufacturing overhead: $1,125,000
  • Fixed manufacturing overhead: $1,135,000
  • Beginning finished goods inventory: $1,130,000
  • Ending finished goods inventory: $1,140,000
  • Beginning work in process inventory: $1,120,000
  • Ending work in process inventory: $1,125,000

Requirements: a) Calculate the total manufacturing cost. b) Calculate the cost of goods manufactured. c) Calculate the cost of goods sold. d) Calculate the gross profit. e) Prepare a schedule of cost of goods manufactured. f) Prepare a schedule of cost of goods sold.

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