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WXY Manufacturing incurred the following costs during March: Item Amount ($) Direct Materials Used 616,000 Direct Labor 582,000 Manufacturing Overhead (Variable) 570,000 Manufacturing Overhead (Fixed)

  1. WXY Manufacturing incurred the following costs during March:
ItemAmount ($)
Direct Materials Used616,000
Direct Labor582,000
Manufacturing Overhead (Variable)570,000
Manufacturing Overhead (Fixed)578,000
Beginning Work in Process Inventory568,000
Ending Work in Process Inventory570,000
Beginning Finished Goods Inventory574,000
Ending Finished Goods Inventory576,000

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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