How would one go about finding the answer for this? and what is the answer? Ques

Question

How would one go about finding the answer for this? and what is the answer?

Question 5 1 pts The following accounts are from last year's books at Sharp Manufacturing Raw Materials Bal 87,000 93,000 5,000 Work In Process 69,000 Bal 0 (f) 251,000 82,000 e 100,000 Finished Goods 0 (g) Bal 226,000 251,000 25,000 Manufacturing Overhead 18,000 (e) 12,000 67,000 100,000 3,000 3,000 Cost of Goods Sold 226,000 (h 223,000 3,000 Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the amount of cost of goods manufactured for the year? o $255,000 $251,000 o $223,000 o $226,000

Explanation / Answer

$251000 ,

cost of goods manufactured = cost of goods sold + beginning work in process - ending work in process

= $251000

Note:- Cost of goods sold = Direct material used + manufacturing overhead incurred + Direct labour incurred

= [87000 - 18000] + 82000 + 100000

= 69000+ 82000 + 100000

= 251000

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