Use the following information to compute the cost of goods manufactured:

A)$36,650.
B)$30,950.
C)$30,650.
D)$30,350.
E)$31,650.

Question

Use the following information to compute the cost of goods manufactured:

A)$36,650. 
B)$30,950. 
C)$30,650. 
D)$30,350. 
E)$31,650.

Quizplus · Accepted Answer

Cost of Goods Manufactured = Direct Materials + Direct Labor + Factory Overhead + Beginning in Goods Process - Ending Goods in Process
Cost of Goods Manufactured = (Beginning Raw Materials + Raw Materials Purchased - Ending Raw Materials) + Direct Labor + (Depreciation on Factory Equipment + Factory Repairs and Maintenance) + Beginning in Goods Process - Ending Goods in Process
Cost of Goods Manufactured = ($5,500 + $7,400 - $4,000) + $12,250 + ($6,500 + $3,300) + $5,700 - $6,300 = $30,350

Use the Following Information to Compute the Cost of Goods