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UVW Corporation incurred the following costs during July: Item Amount ($) Direct Materials Used 192,000 Direct Labor 158,000 Manufacturing Overhead (Variable) 146,000 Manufacturing Overhead (Fixed)

  1. UVW Corporation incurred the following costs during July:
ItemAmount ($)
Direct Materials Used192,000
Direct Labor158,000
Manufacturing Overhead (Variable)146,000
Manufacturing Overhead (Fixed)154,000
Beginning Work in Process Inventory144,000
Ending Work in Process Inventory146,000
Beginning Finished Goods Inventory150,000
Ending Finished Goods Inventory152,000

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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