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XYZ Inc. incurred the following costs during April: Item Amount ($) Direct Materials Used 378,000 Direct Labor 344,000 Manufacturing Overhead (Variable) 332,000 Manufacturing Overhead (Fixed)

  1. XYZ Inc. incurred the following costs during April:
ItemAmount ($)
Direct Materials Used378,000
Direct Labor344,000
Manufacturing Overhead (Variable)332,000
Manufacturing Overhead (Fixed)340,000
Beginning Work in Process Inventory330,000
Ending Work in Process Inventory332,000
Beginning Finished Goods Inventory336,000
Ending Finished Goods Inventory338,000

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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