Question

The following information is available for Ethtridge Manufacturing Company for the month ending July 31: Cost of direct materials used in production $1,150,000 Direct labor 966,000 Work in process inventory, July 1 316,400 Work in process inventory, July 31 355,500 Total factory overhead 490,500 Determine Ethtridge's cost of goods manufactured for the month ended July 31. Ethtridge Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended July 31

Answer 1

See below

Step-by-step explanation:

Ethtridge manufacturing company

Statement of cost of goods manufactured for the month ended, July 31

Work in process July 1

$316,400

Add: Cost of direct materials used in production

$1,150,000

Direct labor

$966,000

Total factory overhead

$490,500

Total manufacturing cost incurred

$2,606,500

Total manufacturing costs

$2,922,900

Less: Work in process July 31

($355,500)

Cost of goods manufactured

$2,567,400