Using the following information, compute the cost of goods manufactured . Work-i

Question

Using the following information, compute the cost of goods manufactured.

Work-in-process inventory, beginning balance:$71,850

Work-in-process inventory, ending balance:$75,290

Direct materials costs: $182,430

Direct labor costs: $196,570

Actual manufacturing overhead costs: $138,000

Applied manufacturing overhead costs: $142,000

Finished goods inventory, beginning balance:$60,000

Finished goods inventory, ending balance:$72,000

a. $524,440

b. $520,440

c. $528,440

d. $517,560

e. $513,560

f. $521,560

g. $505,560

h. $529,560

Explanation / Answer

Work-in-process inventory, beginning balance: $          71,850 Direct materials costs $      182,430 Direct labor costs: $      196,570 Applied manufacturing overhead costs $      142,000 Total cost $      592,850 Less: Work-in-process inventory, ending balance $          75,290 Total cost of goods manufactured $      517,560

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