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VWX Manufacturing incurred the following costs during February: Item Amount ($) Direct Materials Used 374,000 Direct Labor 340,000 Manufacturing Overhead (Variable) 328,000 Manufacturing Overhead (Fixed)

  1. VWX Manufacturing incurred the following costs during February:
ItemAmount ($)
Direct Materials Used374,000
Direct Labor340,000
Manufacturing Overhead (Variable)328,000
Manufacturing Overhead (Fixed)336,000
Beginning Work in Process Inventory326,000
Ending Work in Process Inventory328,000
Beginning Finished Goods Inventory332,000
Ending Finished Goods Inventory334,000

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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