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What would my Statement of Cost of Goods Manufactured look like with the following information: Beginning Inventories Direct Materials: 64 000 Work In Progress: 68
What would my Statement of Cost of Goods Manufactured look like with the following information:
Beginning Inventories
Direct Materials: 64 000
Work In Progress: 68 000
Finished Goods: 30 000
Gross Profit: 20%
Prime Costs: 70% of Manufacturing Costs
Factory Overhead: 40% of conversion costs
Ending work in progress is 10% of monthly manufacturing costs
Actual Operations for the month:
Sales: 1 800 000
Direct Material Purchases: 640 000
Direct Labour Costs: 720 000
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