Question

A company reported Cost of goods manufactured of $50,000 on the statement of cost of goods manufactured. If the beginning balance in Work in process inventory was $20,000 and the ending balance was $25,000, then the total manufacturing costs were

Answer 1

the total manufacturing cost is $55,000

Step-by-step explanation:

The computation of the total manufacturing cost is shown below:

Total manufacturing costs = Cost of goods manufactured + Ending Work in process inventory - Beginning Work in process inventory

= $50,000 + $25,000 - $20,000

= $55,000

Hence, the total manufacturing cost is $55,000

The same should be considered