Question: Consider the following information: direct materials used totaled $124,700; direct labor amounted to $412,000; overhead was computed to be $789,600; Work in Process Inventory on March 1, 2014, was $482,500; and Work in Process Inventory on March 31, 2014, was $597,100. What was the cost of goods manufactured?
Question: Consider the following information: direct materials used totaled $124,700; direct labor amounted to $412,000; overhead was computed to be $789,600; Work in Process Inventory on March 1, 2014, was $482,500; and Work in Process Inventory on March 31, 2014, was $597,100. What was the cost of goods manufactured?
Chapter5: Process Costing
Section: Chapter Questions
Problem 12EA: What are the total costs to account for if a companys beginning inventory had $231,432 in materials,...
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Transcribed Image Text:Question:
Consider the following information: direct materials used
totaled $124,700; direct labor amounted to $412,000; overhead
was computed to be $789,600; Work in Process Inventory on
March 1, 2014, was $482,500; and Work in Process Inventory
on March 31, 2014, was $597,100. What was the cost of goods
manufactured?
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