Question

The following information is available for Tomlin Company. April 1 April 30 Raw materials inventory $10,500 $14,000 Work in process inventory 4,840 3,700 Materials purchased in April $97,700 Direct labor in April 80,300 Manufacturing overhead in April 162,000

Answer 1

Cost of goods manufactured = 337,640

Step-by-step explanation:

The question is to compute Tomlin's Cost of Goods Manufactured Schedule of the Month of April and this is done as follows:

TOMLIN COMPANY COST OF GOODS MANUFACTURED SCHEDULE FOR THE MONTH OF APRIL

Description Amount ($) Amount ($)

Beginning Work-in-progress 4,840

Direct Materials:

Beginning Raw materials 10,500

Add: The Purchases 97,700

Raw materials available 108,200

Subtract: Closing Raw materials (14,000)

Direct Material Used 94,200

Direct Labour 80,300

Manufacturing Overhead 162,000

Total Work-in-progress cost 341,340

Subtract ending work-in-progress 3,700

Cost of Goods manufactured 337,640