The following cost data relate to the manufacturing activities of SEC-54589 during the just completed year:Manufacturing overhead costs incurred:Indirect materialsIndirect laborProperty taxes, factoryUtilities, factoryDepreciation, factoryInsurance, factoryTotal actual manufacturing overhead costs incurredOther costs incurred:Purchases of raw materials (both direct and indirect)Direct labor costInventories:Raw materials (both direct and indirect), beginningRaw materials (both direct and indirect), endingWork in process, beginningWork in process, ending$ 15,400134,0008,40074,000191,20010,400$ 433,400$ 404,000$ 64,000$ 20,400$ 30,400$ 40,400$ 70,400The company uses a predetermined overhead rate of $22 per machine-hour to apply overhead cost to jobs. A total of 20,100 machinehours were used during the year. How much was the cost of goods manufactured for the year?$428,500$ 443,900$ 870,200$ 854,800

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How much was the cost of goods manufactured for the year?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question

The following cost data relate to the manufacturing activities of SEC-54589 during the just completed year:
Manufacturing overhead costs incurred:
Indirect materials
Indirect labor
Property taxes, factory
Utilities, factory
Depreciation, factory
Insurance, factory
Total actual manufacturing overhead costs incurred
Other costs incurred:
Purchases of raw materials (both direct and indirect)
Direct labor cost
Inventories:
Raw materials (both direct and indirect), beginning
Raw materials (both direct and indirect), ending
Work in process, beginning
Work in process, ending
$ 15,400
134,000
8,400
74,000
191,200
10,400
$ 433,400
$ 404,000
$ 64,000
$ 20,400
$ 30,400
$ 40,400
$ 70,400
The company uses a predetermined overhead rate of $22 per machine-hour to apply overhead cost to jobs. A total of 20,100 machine
hours were used during the year. How much was the cost of goods manufactured for the year?
$428,500
$ 443,900
$ 870,200
$ 854,800

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