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How much is the cost of goods manufactured during the year

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Reference no: EM132861842

Question - As the accounting clerk, you are tasked by the CFO to determine the cost of goods sold of Del Mundo Company for the year ended December 31, 2020. During Operating cost data and inventory account balances for 2020 is as follows:

Direct Labor 99,085

Cost of Factory Supervision 42,500

Indirect Labor 126,750

Factory Housekeeping Supplies used 8,100

Factory Utilities 29,220

Depreciation-Factory Building 46,200

Depreciation-Factory Equipment 62,800

Manufacturing Supplies used 9,460

Repairs and Maintenance 14,980

Selling and Administrative Expenses 76,480

Raw Materials Inventory, January 1 26,490

Work-in-Process Inventory, January 1 101,640

Finished Goods Inventory, January 1 148,290

Raw Materials Inventory, December 31 24,910

Work-in-Process Inventory, December 31 100,400

Finished Goods Inventory, December 31 141,100

Raw Materials purchased during the year 361,920

Required -

How much is the cost of raw/direct materials available for use?

How much is the cost of raw/direct materials used during the year?

How much is the total manufacturing overhead incurred during the year?

How much is the total manufacturing cost incurred during the year?

How much is the total goods placed in process?

How much is the cost of goods manufactured during the year?

How much is the total goods available for sale?

How much is the cost of goods sold during the year?

Assuming that the company sale is 1,300,000 how much is the gross profit?

How much is the profit before tax of the company?

Reference no: EM132861842

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