Use the following data to determine the cost of goods manufactured:
A)$102,000
B)$110,100
C)$ 96,600
D)$113,700
E)$100,200

Question

Use the following data to determine the cost of goods manufactured: 
A)$102,000 
B)$110,100 
C)$ 96,600 
D)$113,700 
E)$100,200

Quizplus · Accepted Answer

To determine the cost of goods manufactured, we need to add up the total manufacturing costs of the period and subtract the ending work in process inventory from the total cost of work in process inventory. 
Total Manufacturing Costs = Direct Materials + Direct Labor + Manufacturing Overhead
Total Manufacturing Costs = $28,000 + $42,000 + $36,600 = $106,600
Total Cost of Work in Process Inventory = Beginning Work in Process Inventory + Total Manufacturing Costs - Ending Work in Process Inventory
Total Cost of Work in Process Inventory = $24,000 + $106,600 - $34,000 = $96,600
Therefore, the cost of goods manufactured is $96,600.

Use the Following Data to Determine the Cost of Goods