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Compute for the cost of direct materials used for the year

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Cox Company uses normal costing. During the year ended December 31, 2019, the following information were made available:

  1. Total manufacturing costs incurred during the year. $2.200,000;
  2. Cost of goods manufactured amounted to $1,940,000; 
  3. Factory Overhead is applied to production at 80% of direct labor cost; 
  4. Applied Factory Overhead during the year amounted to 30% of total manufacturing cost: 
  5. Beginning work-in-process inventory was 75% of the work-in-process at the end.

Problem 1: Compute for the cost of direct materials used for the year ended December 31 2019

Reference no: EM132665777

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