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VWX Manufacturing incurred the following costs during February: Item Amount ($) Direct Materials Used 614,000 Direct Labor 580,000 Manufacturing Overhead (Variable) 568,000 Manufacturing Overhead (Fixed)

  1. VWX Manufacturing incurred the following costs during February:
ItemAmount ($)
Direct Materials Used614,000
Direct Labor580,000
Manufacturing Overhead (Variable)568,000
Manufacturing Overhead (Fixed)576,000
Beginning Work in Process Inventory566,000
Ending Work in Process Inventory568,000
Beginning Finished Goods Inventory572,000
Ending Finished Goods Inventory574,000

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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