SHoW Me How Cost of Goods Manufactured for a Manufacturing Company Two items are

Question

SHoW Me How Cost of Goods Manufactured for a Manufacturing Company Two items are omitted from each of the following three lists of cost of goods manufactured statement data. Determine the amounts of the missing items, identifying them by letter. Work in process inventory, August 1 Total manufacturing costs Incurred during August $3,400 $27,200 23,800(159,100 (a) $318,200 $172,700 Total manufacturing costs Work in process inventory, August 31 5,200 66,800 Cost of goods manufactured (d) 145,100 a. b. d. 601 PM 1/15/2018 .

Explanation / Answer

Beginning WIP+Total manufacturing cost incurred=Total manufacturing cost

Total manufacturing cost-Ending WIP=cost of goods manufactured

Beginning WIP 3400 27200 (172700-159100)=$13600 Total manufacturing cost incurred 23800 (318200-27200)=$291000 159100 Total manufacturing cost (3400+23800)=$27200 $318200 $172700 Ending WIP 5200 66800 (172700-145100)=$27600 Cost of goods manufactured (27200-5200)=$22000 (318200-66800)=$251400 $145100

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