Solution-What is the cost of goods manufactured for the

What is the cost of goods manufactured for the current year

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Reference no: EM132727228

Crystal Company accumulated the following data for the current year.

Raw materials-beginning inventory 90,000 units @ $ 7.00

Purchases 75,000 units @ $ 8.00

Purchases 120,000 units @ $ 8.50

The entity transferred 195,000 units of raw materials to work in process during the year.

Work in process-beginning inventory 50,000 units @ $ 14.00

Direct labour $ 3,100,000

Manufacturing overhead $ 2,950,000

Work in process-ending inventory 48,000 units @ $ 15.00

The entity used the FIFO method for valuing inventory.

Problem 1. What is the cost of raw materials used?

Problem 2. What is the total manufacturing cost?

Problem 3. What is the cost of goods manufactured for the current year?

Reference no: EM132727228

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What is the cost of goods manufactured for the current year

Reference no: EM132727228

Reference no: EM132727228

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