Reference no: EM132549378
Using the information provided below calculate the following numbers:
Question 1. What is the Total Manufacturing Cost?
Question 2. What is the Cost of Goods Manufactured?
Question 3. What is the Cost of Goods Sold?
Question 4. What is the Net Operating Income?
Inventories:
Beginning Ending
Raw materials $30,000 $40,000
Work in process $11,000 $5,000
Finished goods $31,000 $35,000
Additional information:
Sales $300,000
Raw materials purchases $70,000
Direct labor cost $38,000
Manufacturing overhead $85,000
Selling expense $19,000
Administrative expense $37,000