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VWX Inc. incurred the following costs during March: Item Amount ($) Direct Materials Used 112,000 Direct Labor 78,000 Manufacturing Overhead (Variable) 66,000 Manufacturing Overhead (Fixed)

  1. VWX Inc. incurred the following costs during March:
ItemAmount ($)
Direct Materials Used112,000
Direct Labor78,000
Manufacturing Overhead (Variable)66,000
Manufacturing Overhead (Fixed)74,000
Beginning Work in Process Inventory64,000
Ending Work in Process Inventory66,000
Beginning Finished Goods Inventory70,000
Ending Finished Goods Inventory72,000

Requirements: a) Determine 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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