9.9k views
3 votes
The following information is available for Tomlin Company.

April 1 April 30
Raw materials inventory $10,000 $14,400
Work in process inventory 4,830 3,290
Materials purchased in April $97,900
Direct labor in April 80,300
Manufacturing overhead in April 155,000
Prepare the cost of goods manufactured schedule for the month of April.

User Maggix
by
5.3k points

1 Answer

2 votes

Answer:

cost of goods manufactured= $330,340

Step-by-step explanation:

Giving the following information:

April 1 April 30

Raw materials inventory $10,000 $14,400

Work in process inventory 4,830 3,290

Materials purchased in April $97,900

Direct labor in April 80,300

Manufacturing overhead in April 155,000

To calculate the cost of goods manufactured, we need to use the following formula:

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

Direct material used= beginning inventory + purchases - ending inventory

Direct material used= 10,000 + 97,900 - 14,400= $93,500

cost of goods manufactured= 4,830 + 93,500 + 80,300 + 155,000 - 3,290

cost of goods manufactured= $330,340

User Aina
by
5.2k points