Question

HELP ME PRETTY PLEASE!!! The formula for cost of goods manufactured is

A. beginning work-in-process plus total manufacturing cost minus ending work-in-process.

B. raw materials plus direct labor less overhead plus beginning work-in-process inventory less ending work-in-process inventory.

C. raw materials plus direct labor minus overhead plus beginning work-in-process inventory plus ending work-in-process inventory.

D. raw materials minus direct labor plus overhead plus beginning work-in-process inventory plus ending work-in-process inventory.
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Answer 1

The formula and format for presenting the cost of goods manufactured is:

The cost of the direct materials used

PLUS the cost of the direct labor used

PLUS the cost of manufacturing overhead assigned

EQUALS = the manufacturing costs incurred in the current accounting period

PLUS the cost of the beginning work-in-process inventory

MINUS the cost of the ending work-in-process inventory