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UVW Manufacturing incurred the following costs during July: Item Amount ($) Direct Materials Used 432,000 Direct Labor 398,000 Manufacturing Overhead (Variable) 386,000 Manufacturing Overhead (Fixed)

  1. UVW Manufacturing incurred the following costs during July:
ItemAmount ($)
Direct Materials Used432,000
Direct Labor398,000
Manufacturing Overhead (Variable)386,000
Manufacturing Overhead (Fixed)394,000
Beginning Work in Process Inventory384,000
Ending Work in Process Inventory386,000
Beginning Finished Goods Inventory390,000
Ending Finished Goods Inventory392,000

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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