Question

Given the following, calculate cost of goods sold: Inventories: Beginning Ending Direct materials $300 $250 Work in process $400 $200 Finished goods $500 $350 Direct material purchases $4,200 Direct labor $3,000 Manufacturing overhead $5,000

Answer 1

Cost of Goods Sold = $12,600

Step-by-step explanation:

Inventories:

Beginning Direct materials $300

+Direct material purchases $4,200

-Ending Direct materials $250

Direct Material used $4,250

+Direct labor $3,000

+Manufacturing overhead $5,000

Total Manufacturing Cost $12,250

+Beginning Work in process $400

-Ending Work in process $200

Cost of Goods Manufactured $12,450

+Beginning Finished goods $500

-Ending Finished goods $350

Cost of Goods Sold $12,600