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XYZ Corporation gathered the following data for the month of April: Item Amount ($) Direct Materials Used 162,000 Direct Labor 128,000 Manufacturing Overhead (Variable) 116,000

  1. XYZ Corporation gathered the following data for the month of April:
ItemAmount ($)
Direct Materials Used162,000
Direct Labor128,000
Manufacturing Overhead (Variable)116,000
Manufacturing Overhead (Fixed)124,000
Beginning Work in Process Inventory114,000
Ending Work in Process Inventory116,000
Beginning Finished Goods Inventory120,000
Ending Finished Goods Inventory122,000

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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