Reference no: EM132671472
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
Problem (a) Compute cost of goods manufactured.
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