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Determine the cost of goods manufactured

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Reference no: EM132880469

Problem - Swain Company has the following information for January:

Cost of direct materials used in production $12,000

Direct labor 31,000

Factory overhead 20,000

Work in process inventory, January 1 50,000

Work in process inventory, January 31 53,000

Finished goods inventory, January 1 21,000

Finished goods inventory, January 31 24,000

Required -

1. For January, determine (a) the cost of goods manufactured.

2. For January, determine (b) the cost of goods sold.

Reference no: EM132880469

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