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WXY Manufacturing incurred the following costs during January: Item Amount ($) Direct Materials Used 396,000 Direct Labor 362,000 Manufacturing Overhead (Variable) 350,000 Manufacturing Overhead (Fixed)

  1. WXY Manufacturing incurred the following costs during January:
ItemAmount ($)
Direct Materials Used396,000
Direct Labor362,000
Manufacturing Overhead (Variable)350,000
Manufacturing Overhead (Fixed)358,000
Beginning Work in Process Inventory348,000
Ending Work in Process Inventory350,000
Beginning Finished Goods Inventory354,000
Ending Finished Goods Inventory356,000

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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