Reference no: EM131215775
Champagne of the? South, Inc., a manufacturer of bottled sweet? tea, had the following beginning and ending inventories for the year ended December? 31, 2013:
January 1 December 31
Raw Materials? Inventory* $10,000 $6,372
Work in Process Inventory $18,602 $17,000
Finished Goods Inventory $21,000 $16,500
?*Raw Materials Inventory consists of both direct material and indirect material.
During the? year, direct labor costs of? $30,000 were? incurred, manufacturing overhead totaled ?$42,000, materials purchased were? $27,000, and selling and administrative costs were? $22,000. Champagne sold? 25,000 units of product during the year at a sales price of? $5.00 per unit. What were the total manufacturing costs for the year assuming $2,400 of indirect materials were used during the ?period?
1) The total manufacturing costs for the year were $______. (Enter commas where appropriate. For?example, enter? 1,000 and not? 1000.)
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