Maplewood Company reported manufacturing overhead of $300,000 with the company's year-end balance sheet revealing work in process and finished goods of $80,000 and $150,000, respectively. If supplemental information disclosed raw materials used in production of $70,000, direct labour of $130,000, and beginning work in process of $30,000, the company's cost of goods manufactured have been:
A)$150,000.
B)$380,000.
C)$450,000
D)$550,000.
E)$610,000.

Question

Quizplus · Accepted Answer

The cost of goods manufactured is calculated as: Beginning Work in Process ($30,000) + Raw Materials Used ($70,000) + Direct Labour ($130,000) + Manufacturing Overhead ($300,000) - Ending Work in Process ($80,000) = $450,000.

Maplewood Company Reported Manufacturing Overhead of $300,000 with the Company's