Question

Given the following data for Glennon Company, compute (A) total manufacturing costs and (B) costs of goods manufactured: Direct materials used $180000 Beginning work in process $40000 Direct labor 110000 Ending work in process 20000 Manufacturing overhead 160000 Beginning finished goods 50000 Operating expenses 260000 Ending finished goods 30000

Answer 1

$450,000; $470,000

Step-by-step explanation:

Total manufacturing costs = Direct material + direct labor + cost of manufacturing overhead

Total manufacturing costs = $180,000 + $110,000 + $160,000

= $450,000

Cost of goods manufactured:

= Cost of beginning work in process + Production costs - cost of ending work in process

Cost of goods manufactured = $40,000 + $450,000 - $20,000

= $470,000