Fire Cat,Inc.selected cost data for the year are shown below: $$\begin{array} { | l | r | }
\hline \text { Cost of Goods Manufactured } & \$ 145,500 \
\hline \text { Work-in-Process Inventory, Jan. 1 } & 19,500 \
\hline \text { Work-in-Process Inventory, Dec. 31 } & 22,000 \
\hline \text { Direct Materials Used } & 18,600 \
\hline
\end{array}$$ What is the total of manufacturing costs incurred by Fire Cat,Inc.during the year?
A) $148,000
B) $143,000
C) $22,900
D) $38,100

Question

Fire Cat,Inc.selected cost data for the year are shown below: $$\begin{array} { | l | r | } 
\hline \text { Cost of Goods Manufactured } & \$ 145,500 \
\hline \text { Work-in-Process Inventory, Jan. 1 } & 19,500 \
\hline \text { Work-in-Process Inventory, Dec. 31 } & 22,000 \
\hline \text { Direct Materials Used } & 18,600 \
\hline
\end{array}$$ What is the total of manufacturing costs incurred by Fire Cat,Inc.during the year?
A) $148,000
B) $143,000
C) $22,900
D) $38,100

Quizplus · Accepted Answer

Cost of Goods Manufactured = Direct Materials Used + Direct Labor + Manufacturing OverheadDirect Labor = Cost of Goods Manufactured - Direct Materials Used - Manufacturing OverheadManufacturing Overhead = Cost of Goods Manufactured - Direct Materials Used - Direct LaborDirect Labor = $145,500 - $18,600 - $0 = $126,900Manufacturing Overhead = $145,500 - $18,600 - $126,900 = $0Total manufacturing costs incurred = Direct Materials Used + Direct Labor + Manufacturing Overhead= $18,600 + $126,900 + $0 = $145,500

Fire Cat,Inc What Is the Total of Manufacturing Costs Incurred by Fire