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Determine the cost of goods sold

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Reference no: EM132880472

Problem - Dandee Company has the following information for July:

Cost of direct materials used in production $84,000

Direct labor 110,000

Factory overhead 56,000

Work in process inventory, July 1 41,000

Work in process inventory, July 31 37,000

Finished goods inventory, July 1 47,000

Finished goods inventory, July 31 34,000

Required -

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

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

Reference no: EM132880472

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