The cost of goods .old for a manufacturer is calculated by adding the beginning

Question

The cost of goods .old for a manufacturer is calculated by adding the beginning inventory of finished goods to A manufacturer would compute cost of goods manufactured by adding beginning work in process to The manufacturing records of the ABC company reported $700,000 for cost of goods manufactured, beginning finished goods inventory $325,000, sales $1,500,000 endinti following: Beginning work in process $200 5825,000; Direct labor, $600,000; used goods $425,000; Ending work in process $210 000 finished manufactured? What was the cost of goods

Explanation / Answer

20 A the cost of goods manufactred less the ending Finished goods 21 C The current manufacturing cost less the ending work in progress 22 D 595000 Cost of goods manufactured 7,00,000 Add Finshed Goods Inventory 325000 Goods available For sale 10,25,000 Less Ending Finished Goods 430000 Cost of goods sold 5,95,000 23 A 1775000 Beginning WIP 200000 Direct material used 825000 Direct Labor 600000 Manufacturing Overhead 360000 Total Manufacturing Cost 1985000 Less: Ending Work-in-Process Inventory 210000 Cost of Goods Manufactured 1775000

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