Moving to another question will save this response. Question 1 Frankin Corporati

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Moving to another question will save this response. Question 1 Frankin Corporation has provided the following data concerning last month's operations Purchase of Raw Materials Indirect Materials Used Direct Labor Cost Manufacturing Overhead Applied $26,000 6,000 58,000 97,000 Beginning $ 52,000 11,000 Ending s 66,000 17,000 Work in Process Inventory Raw Materials Inventory How much is the cost of goods manufactured for the month on the Schedule of Cost of Goods Manufactured? O $175,000 O $221,000 $155,000 O $169,000

Explanation / Answer

Schedule of Cost of Goods Manufactured Direct materials: Raw materials inventory, beginning 11000 Add: Purchases of raw materials 26000 Total raw materials available 37000 Deduct: Raw materials inventory, ending 17000 Raw materials used in production 20000 Less: Indirect materials 6000 14000 Direct labor 58000 Manufacturing overhead applied to work in process inventory 97000 Total manufacturing costs 169000 Add: Beginning work in process inventory 52000 221000 Deduct: Ending work in process inventory 66000 Cost of goods manufactured 155000 Option 3 is correct

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