Required information The following information applies to the questions displaye

Question

Required information The following information applies to the questions displayed below The following information has been taken from the perpetual inventory system of Elite Mfg. Co. for the month ended August 31: Purchases of direct materials Direct materials used Direct labor costs assigned to production Manufacturing overhead costs incurred (and applied) $77,000 $64,000 $27,000 $35,000 Balances in invento Materials Work in Process Finished Goods August 31 August 1 38,000 S 61,000 55,500 $66,000 48,100 The cost of finished goods manufactured in August is:

Explanation / Answer

Calculate cost of finished goods manufactured :

Direct material used 64000 Direct labour 27000 Manufacturing overhead 35000 Total manufacturing cost 126000 Beginning work in process 55500 Less: Ending work in process (61000) Cost of finished goods manufactured 120500

Related Questions

Navigate

• Browse (All)
• Browse R
• Subjects

---

---

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