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VWX Manufacturing incurred the following costs during August: Item Amount ($) Direct Materials Used 314,000 Direct Labor 280,000 Manufacturing Overhead (Variable) 268,000 Manufacturing Overhead (Fixed)

  1. VWX Manufacturing incurred the following costs during August:
ItemAmount ($)
Direct Materials Used314,000
Direct Labor280,000
Manufacturing Overhead (Variable)268,000
Manufacturing Overhead (Fixed)276,000
Beginning Work in Process Inventory266,000
Ending Work in Process Inventory268,000
Beginning Finished Goods Inventory272,000
Ending Finished Goods Inventory274,000

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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