Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ZAB Manufacturing Company manufactures a single product. The following information is available for the month of June: Direct materials used: $1,210,000 Direct labor cost: $1,185,000

  1. ZAB Manufacturing Company manufactures a single product. The following information is available for the month of June:
  • Direct materials used: $1,210,000
  • Direct labor cost: $1,185,000
  • Variable manufacturing overhead: $1,155,000
  • Fixed manufacturing overhead: $1,165,000
  • Beginning finished goods inventory: $1,160,000
  • Ending finished goods inventory: $1,170,000
  • Beginning work in process inventory: $1,150,000
  • Ending work in process inventory: $1,155,000

Requirements: a) Calculate the total manufacturing cost. b) Calculate the cost of goods manufactured. c) Calculate the cost of goods sold. d) Calculate the gross profit. e) Prepare a schedule of cost of goods manufactured. f) Prepare a schedule of cost of goods sold.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial and managerial accounting

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

1st edition

111800423X, 9781118233443, 1118016114, 9781118004234, 1118233441, 978-1118016114

More Books

Students also viewed these Accounting questions

Question

=+ Identify the ethical dilemma in this scenario.

Answered: 1 week ago