Using the information below for Singing Dolls, Inc., determine cost of goods manufactured for the year: $\begin{array} { | l | r | }
\hline & \
\hline \text { Work in Process, January 1 } & 50,000 \
\hline \text { Work in Process, December } 31 & 37,000 \
\hline \text { Total Factory overhead } & 5,500 \
\hline \text { Direct materials used } & \$ 12,500 \
\hline \text { Direct labor used } & 26,500 \
\hline
\end{array}$
A) $13,000.
B) $44,500.
C) $57,500.
D) $94,500.
E) $52,000.

Question

Using the information below for Singing Dolls, Inc., determine cost of goods manufactured for the year: $\begin{array} { | l | r | } 
\hline & \
\hline \text { Work in Process, January 1 } & 50,000 \
\hline \text { Work in Process, December } 31 & 37,000 \
\hline \text { Total Factory overhead } & 5,500 \
\hline \text { Direct materials used } & \$ 12,500 \
\hline \text { Direct labor used } & 26,500 \
\hline
\end{array}$
A) $13,000.
B) $44,500.
C) $57,500.
D) $94,500.
E) $52,000.

Quizplus · Accepted Answer

Cost of Goods Manufactured = Beginning Inventory of Raw Materials + Raw Materials Purchased - Ending Inventory of Raw Materials + Direct Labor + Manufacturing Overhead
Cost of Goods Manufactured = $7,000 + $73,000 - $22,500 + $25,000 + $30,000
Cost of Goods Manufactured = $57,500.

Using the Information Below for Singing Dolls, Inc A) $13,000