Question

April 1 April 30 Raw materials inventory $10,500 $13,500 Work in process inventory 5,350 3,770 Materials purchased in April $98,100 Direct labor in April 80,300 Manufacturing overhead in April 160,000 Prepare the cost of goods manufactured schedule for the month of April

Answer 1

cost of goods manufactured= $336,980

Step-by-step explanation:

First, we need to calculate the direct material used:

Direct material used= beginning inventory + purchases - ending inventory

Direct material used= 10,500 + 98,100 - 13,500

Direct material used= $95,100

Now, the cost of goods manufactured:

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 5,350 + 95,100 + 80,300 + 160,000 - 3,770

cost of goods manufactured= $336,980