Reference no: EM132368016

Question

How do you calculate the cost of direct materials transferred into production given the following elements?

Beginning balance in raw material inventory $12,500

Purchased of raw material $189,000

Ending balance in Raw Materials Inventory 14,300

Beginning balance in work in process 23,100

Direct labor cost 89,700

Manufacturing overhead applied 65,300

Actual manufacturing overhead 64,100

Beginning balance in Finish Goods 28,900

Ending balance in Finish Goods 24,300

Sales 432,000

Selling Expenses 120,000

General and administrative expenses 86,000