Reference no: EM132619383
Question - The following information is related to a manufacturing company for the year ended 30 June 2020.
Direct materials on 1 July 2019 20,000
Direct materials on 30 June 2020 35,000
Direct materials purchased 40,000
Direct manufacturing labour costs 40,000
Indirect manufacturing labour costs 27,000
Factory repairs and maintenance costs 6,000
Indirect materials used 22,000
Marketing costs 55,000
Sales commission costs 12,000
Plant electrical expenses 9,000
Work in progress Inventory, 1 July 2019 60,000
Work in progress inventory, 30 June 2020 79,000
Finished goods inventory, 1 July 2019 81,000
Finished goods inventory, 30 June 2020 69,000
Required - Using the information above to calculate the following:
1. Direct materials used
2. Direct manufacturing costs
3. Total Manufacturing cost
4. Cost of goods manufactured and
5. Cost of goods sold