11) Selected financial information for Sunnydale Manufacturing is presented in t

Question

11) Selected financial information for Sunnydale Manufacturing is presented in the following table (000s omitted). What was cost of goods manufactured?

Sales revenue

$ 4,000

Purchases of raw materials

$ 500

Direct labor

$ 450

Manufacturing overhead

$ 620

Operating expenses

$ 700

Beginning raw materials inventory

$ 150

Ending raw materials inventory

$ 170

Beginning work in process inventory

$ 320

Ending work in process inventory

$ 310

Beginning finished goods inventory

$ 250

Ending finished goods inventory

$ 200

A. $1,560 B. $1,540 C. $1,580 D. $1,550

How do u calculate the direct materials used

Sales revenue

$ 4,000

Purchases of raw materials

$ 500

Direct labor

$ 450

Manufacturing overhead

$ 620

Operating expenses

$ 700

Beginning raw materials inventory

$ 150

Ending raw materials inventory

$ 170

Beginning work in process inventory

$ 320

Ending work in process inventory

$ 310

Beginning finished goods inventory

$ 250

Ending finished goods inventory

$ 200

Explanation / Answer

A. $1,560 Statement showing cost of goods Manufactured Particulars Amount Opening raw Materials                      150.00 Purchases of Raw Materials                      500.00 Total raw Material Available = op+ Pur                      650.00 Closing Raw Materials                      170.00 Raw Material Used = 650 - 170                      480.00 Direct Labor                      450.00 Manufacturing overhead                      620.00 Opening WIP                      320.00 Closing WIP                   (310.00) Cost of Goods Manufactured                  1,560.00

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