Answer:Total manufacturing cost = $1,876,000
Cost of goods sold =$1,668,000
Step-by-step explanation:
The Total manufacturing costs is defined as how much a company uses in production of its inventory at a particular time. It takes three costs into consideration and they are Direct materials, Direct labor and Manufacturing overhead.
it is calculated using the formulae.
Total manufacturing cost = Direct materials + Direct labor + Manufacturing overhead
Direct raw materials =Beginning raw materials +materials purchased -Ending raw materials
=84000+1,450,000-68000=$1,466,000
Total manufacturing cost =$1,466,000+ $250,000 +$160,000
= $1,876,000
The total manufacturing costs incurred during 2020 for Benson is $1,876,000
Cost of goods sold = Beginning Inventory of Finished goodd + Cost of Goods – Ending Inventory Of finished goods.
$100,000 + $1,660,000 - 92,000
$1,668,000
Note :
The beginning inventory =the value of inventory at end of the previous year.