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WXY Manufacturing incurred the following costs during January: Item Amount ($) Direct Materials Used 756,000 Direct Labor 722,000 Manufacturing Overhead (Variable) 710,000 Manufacturing Overhead (Fixed)

  1. WXY Manufacturing incurred the following costs during January:
ItemAmount ($)
Direct Materials Used756,000
Direct Labor722,000
Manufacturing Overhead (Variable)710,000
Manufacturing Overhead (Fixed)718,000
Beginning Work in Process Inventory708,000
Ending Work in Process Inventory710,000
Beginning Finished Goods Inventory714,000
Ending Finished Goods Inventory716,000

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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