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VWX Manufacturing incurred the following costs during August: Item Amount ($) Direct Materials Used 794,000 Direct Labor 760,000 Manufacturing Overhead (Variable) 748,000 Manufacturing Overhead (Fixed)

  1. VWX Manufacturing incurred the following costs during August:
ItemAmount ($)
Direct Materials Used794,000
Direct Labor760,000
Manufacturing Overhead (Variable)748,000
Manufacturing Overhead (Fixed)756,000
Beginning Work in Process Inventory746,000
Ending Work in Process Inventory748,000
Beginning Finished Goods Inventory752,000
Ending Finished Goods Inventory754,000

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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