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Calculate the direct materials used in production

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Reference no: EM132870066

Problem 1 - Morning Smiles Coffee Company manufactures Stoneware French Press coffee makers. On March 1, Morning Smiles had $25,000 of materials in inventory. During the month of March, the company purchased $350,000 of materials. On March 31, materials inventory equaled $40,000. Calculate the direct materials used in production for the month of March.

Problem 2 - Morning Smiles Coffee Company manufactures Stoneware French Press coffee makers. During the month of March, the company purchased $350,000 of materials. Also during the month of March, Morning Smiles incurred direct labor cost of $74,000 and manufacturing overhead of $190,000. Inventory information is as follows: Calculate the cost of goods manufactured for the month of June.

Reference no: EM132870066

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