Blake Company's beginning and ending inventories for the month of June were as follows: June 1 June 30 Direct Materials $65,000 $59,000 Work in Process $137,000 $166,000 Finished Goods $80,000 $72,000 Production data for the month follow: Direct labor cost incurred Direct labor-hours $195,000 30,000 Actual manufacturing overhead cost incurred $147,000 Direct materials purchases $132,000 Blake applies manufacturing overhead costs to jobs based on direct labor hours, and the predetermined rate is $5.40 per direct labor hour. The company does not close underapplied or overapplied manufacturing overhead to the Cost of Goods Sold until the end of the year. What is the amount of cost of goods manufactured?
Blake Company's beginning and ending inventories for the month of June were as follows: June 1 June 30 Direct Materials $65,000 $59,000 Work in Process $137,000 $166,000 Finished Goods $80,000 $72,000 Production data for the month follow: Direct labor cost incurred Direct labor-hours $195,000 30,000 Actual manufacturing overhead cost incurred $147,000 Direct materials purchases $132,000 Blake applies manufacturing overhead costs to jobs based on direct labor hours, and the predetermined rate is $5.40 per direct labor hour. The company does not close underapplied or overapplied manufacturing overhead to the Cost of Goods Sold until the end of the year. What is the amount of cost of goods manufactured?
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Transcribed Image Text:Blake Company's beginning and ending inventories for the month of June were as follows:
June 1
June 30
Direct Materials $65,000 $59,000
Work in Process $137,000 $166,000
Finished Goods $80,000 $72,000
Production data for the month follow:
Direct labor cost incurred
Direct labor-hours
$195,000
30,000
Actual manufacturing overhead cost incurred $147,000
Direct materials purchases
$132,000
Blake applies manufacturing overhead costs to jobs based on direct labor hours, and the
predetermined rate is $5.40 per direct labor hour. The company does not close underapplied or
overapplied manufacturing overhead to the Cost of Goods Sold until the end of the year.
What is the amount of cost of goods manufactured?
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