Watertoys corporation manufactured a variety of products in its factory. Data fo

Question

Watertoys corporation manufactured a variety of products in its factory. Data for the most recent month's operations appear below:

Beginning raw materials inventory $40,132
Purchases of raw materials $395,952
Ending raw materials inventory $61,322
Direct labor $177,450
Manufacturing overhead $505,325
Beginning work in process inventory $235,400
Ending work in process inventory $215,900

Prepare a schedule of cost of goods manufacturing for the company for the month. Left align all rows for formatting purposes.

Explanation / Answer

Please change your figures or let me know if you cant.... Direct Materials, Direct Labor and Overhead feed into Work-in-process which then feeds into Finish Goods, which then feeds into Cost of Goods sold. The Part from WIP to Finish Goods is the Cost of goods Manufactured. I'll give you a schedule for all the T-accounts but the ANSWER is Cost of goos Manufactured is 1,200,000. DM +BB 60,000 +Purch 690,000 End 45,000 IF you do the math it comes out to 705,000 of DM used DL +135,000 O/H +370,000 Those three feed into WIP WIP +BB 120,000 +DM 705,000 +DL 135,000 +O/H 370,000 End 130,000 If you do the math the cost of goods manufactured is 1,200,000 FINAL ANSWER = 1,200,000

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