Direct materials used totaled $64,750; direct labor incurred totaled $198,400; manufacturing overhead totaled $394,800; Work in Process Inventory on January 1, 2004, was $189,100; and Work in Process Inventory on December 31, 2004, was $197,600. What is the cost of goods manufactured for the year ended December 31, 2004? a. $1,044,650 b. $657,950 c. $649,450 d. $197,600 e. None of the above

Direct materials used totaled $64,750; direct labor incurred totaled $198,400; manufacturing overhead totaled $394,800; Work in Process Inventory on January 1, 2004, was $189,100; and Work in Process Inventory on December 31, 2004, was $197,600. What is the cost of goods manufactured for the year ended December 31, 2004? a. $1,044,650 b. $657,950 c. $649,450 d. $197,600 e. None of the above

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 21E: Ellerson Company provided the following information for the last calendar year: During the year,...

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