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WXY Manufacturing incurred the following costs during July: Item Amount ($) Direct Materials Used 336,000 Direct Labor 302,000 Manufacturing Overhead (Variable) 290,000 Manufacturing Overhead (Fixed)

  1. WXY Manufacturing incurred the following costs during July:
ItemAmount ($)
Direct Materials Used336,000
Direct Labor302,000
Manufacturing Overhead (Variable)290,000
Manufacturing Overhead (Fixed)298,000
Beginning Work in Process Inventory288,000
Ending Work in Process Inventory290,000
Beginning Finished Goods Inventory294,000
Ending Finished Goods Inventory296,000

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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