Solution-Compute cost of goods manufactured

Compute cost of goods manufactured

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Question - An analysis of the accounts of Markus Manufacturing reveals the following manufacturing cost data for the month ended June 30, 2020.

Inventories	Beginning	Ending
Raw materials	$10,000	$11,500
Work in process	6,500	13,000
Finished goods	10,000	6,000

Costs incurred: Raw materials purchases $64,000, direct labor $57,000, manufacturing overhead $22,900. The specific overhead costs were: indirect labor $7,500, factory insurance $4,000, machinery depreciation $5,000, machinery repairs $1,800, factory utilities $3,100, miscellaneous factory costs $1,500. Assume that all raw materials used were direct materials.

Instructions - Compute cost of goods manufactured.

Reference no: EM132709264

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Compute cost of goods manufactured

Reference no: EM132709264

Reference no: EM132709264

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