Karmon Audio, Inc. manufactures speakers. During March, Karmon’s transactions and accounts included the following:Raw materials acquired for cash$82,500Cost of direct materials used in production81,900Costs to ship products to customers1,000Direct labor cost incurred41,000Total manufacturing overhead incurred25,000Raw materials inventory, beginning3,500Raw materials inventory, ending3,600Work in process inventory, beginning12,000Work in process inventory, ending14,200How much is cost of goods manufactured for March? $146,300 $146,700 $145,700 $147,900

Solution: Particulars Amount ($) Cost of direct materials used in production 81,900 Direct…

Answered: Karmon Audio, Inc. manufactures…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Karmon Audio, Inc. manufactures speakers. During March, Karmon’s transactions and accounts included the following:

Raw materials acquired for cash	$82,500
Cost of direct materials used in production	81,900
Costs to ship products to customers	1,000
Direct labor cost incurred	41,000
Total manufacturing overhead incurred	25,000
Raw materials inventory, beginning	3,500
Raw materials inventory, ending	3,600
Work in process inventory, beginning	12,000
Work in process inventory, ending	14,200

How much is cost of goods manufactured for March?

$146,300

$146,700

$145,700

$147,900

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