Question

Presented below are incomplete manufacturing cost data.

1. Determine the missing amounts for three different situations.

Direct Materials Used Direct Labor Used Factory Overhead Total manufacturing Cost

(1) $44,000 $62,200 $51,100 $_____

(2) $_____ $77,500 $144,000 $300,000

(3) $58,600 $_____ $114,000 $311,000

2. Determine the missing amounts.

Total Manufacturing Costs Work in Process (January 1) Work in Process (December 31) Cost of Goods Manufactured

(1) $_____ $122,000 $85,200 $_____

(2) $300,000 $_____ $99,800 $323,600

(3) $311,000 $465,000 $_____ $719,000

Answer 1

Answer and Explanation:

The computation of the missing amount is as follows

As we know that

Total manufacturing costs is

= Direct materials cost + Direct labor cost + Factory overhead cost

And,

Cost of goods manufactured is

= Total manufacturing costs + Beginning work in process - ending work in process

Based on this, the calculation is as follows

Direct materials Direct labor Factory Total

overhead manufacturing costs

1. $44,000 $62,200 $51,100 $157,300

2. $78,500 $77,500 $144,000 $300,000

3. $58,600 $138,400 $114,000 $311,000

Now

Total Manufacturing Costs Beg. Work End. Work Cost of Goods

in Process in Process Manufactured

1. $157,300 $122,000 $85,200 $194,100

2. $300,000 $123,400 $99,800 $323,600

3. $311,000 $465,000 $57,000 $719,000