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UVW Manufacturing incurred the following costs during May: Item Amount ($) Direct Materials Used 332,000 Direct Labor 298,000 Manufacturing Overhead (Variable) 286,000 Manufacturing Overhead (Fixed)

  1. UVW Manufacturing incurred the following costs during May:
ItemAmount ($)
Direct Materials Used332,000
Direct Labor298,000
Manufacturing Overhead (Variable)286,000
Manufacturing Overhead (Fixed)294,000
Beginning Work in Process Inventory284,000
Ending Work in Process Inventory286,000
Beginning Finished Goods Inventory290,000
Ending Finished Goods Inventory292,000

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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