9. Compute the cost of goods manufactured from the following information. Factor

Question

9. Compute the cost of goods manufactured from the following information.

Factory overhead

$ 400

Goods in process inventory, January 1

850

Raw material used

600

Finished goods inventory, December 31

1,500

Goods in process inventory, December 31

790

Direct labor

1,300

Finished goods inventory, January 1

1,300

a.

$2,360

b.

$2,570

c.

$2,410

d.

$2,670

Factory overhead

$ 400

Goods in process inventory, January 1

850

Raw material used

600

Finished goods inventory, December 31

1,500

Goods in process inventory, December 31

790

Direct labor

1,300

Finished goods inventory, January 1

1,300

Explanation / Answer

Hence answer is (a) 2360

Goods in process inventory, January 1 $850.00 Raw material used $600.00 Direct labor $1,300.00 Factory overhead $ 400.00 Less: Goods in process inventory, December 31 $(790.00) Cost of goods manufactured $ 2,360.00

Related Questions

Navigate

• Browse (All)
• Browse 9
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.