The following information was taken from the accounting records of Jackson Manuf
ID: 2480857 • Letter: T
Question
The following information was taken from the accounting records of Jackson Manufacturing Company:
Direct materials purchased $95,000
Direct materials used 76,000
Direct manufacturing labor costs 10,000
Indirect manufacturing labor costs 22,000
Sales salaries 35,000
Miscellaneous factory expenses 5,000
Administrative expenses 40,000
Finished goods inventory, beginning 10,000
Finished goods inventory, end 12,000
Work in process inventory,beginning 0
Work in process inventory, end 0
What is Cost of Goods Manufactured?
A) $111,000
B) $113,000
C) $130,000
D) $132,000
Please show working process
Explanation / Answer
Cost of Goods Manufactured;
Raw material used =$76,000
Direct manufacturing labor cost =$10,000
Indirect manufacturing labor cost =$22,000
Miscellaneous factory expenses =$5,000
$113,000
option B
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