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WXY Manufacturing incurred the following costs during July: Item Amount ($) Direct Materials Used 456,000 Direct Labor 422,000 Manufacturing Overhead (Variable) 410,000 Manufacturing Overhead (Fixed)

  1. WXY Manufacturing incurred the following costs during July:
ItemAmount ($)
Direct Materials Used456,000
Direct Labor422,000
Manufacturing Overhead (Variable)410,000
Manufacturing Overhead (Fixed)418,000
Beginning Work in Process Inventory408,000
Ending Work in Process Inventory410,000
Beginning Finished Goods Inventory414,000
Ending Finished Goods Inventory416,000

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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