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WXY Inc. incurred the following costs during November: Item Amount ($) Direct Materials Used 176,000 Direct Labor 142,000 Manufacturing Overhead (Variable) 130,000 Manufacturing Overhead (Fixed)

  1. WXY Inc. incurred the following costs during November:
ItemAmount ($)
Direct Materials Used176,000
Direct Labor142,000
Manufacturing Overhead (Variable)130,000
Manufacturing Overhead (Fixed)138,000
Beginning Work in Process Inventory128,000
Ending Work in Process Inventory130,000
Beginning Finished Goods Inventory134,000
Ending Finished Goods Inventory136,000

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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