Schedule of Cost of Goods Manufactured Direct Materials Used: Direct Materials Used Total Manufacturing Costs Incurred during the Year Total Manufacturing Costs to Account For Cost of Goods Manufactured Balances: Beginning Ending Direct Materials 29,000 30,000 Work-in-Process Inventory 42,000 35,000 Finished Goods Inventory 22,000 26,000 Other information: Purchases of direct materials 76,000 Direct labor 89,000 Manufacturing overhead 44,000 %24 %24

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter5: Process Costing
Section: Chapter Questions
Problem 4MC: Which of the following is a conversion cost? A. raw materials B. direct labor C. sales commissions...
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Trying to figure out how to calculate manufacturer compute cost of goods manufactured and cost of goods​sold

 
Schedule of Cost of Goods Manufactured
Direct Materials Used:
Direct Materials Used
Total Manufacturing Costs Incurred during the Year
Total Manufacturing Costs to Account For
Cost of Goods Manufactured
Transcribed Image Text:Schedule of Cost of Goods Manufactured Direct Materials Used: Direct Materials Used Total Manufacturing Costs Incurred during the Year Total Manufacturing Costs to Account For Cost of Goods Manufactured
Balances:
Beginning
Ending
Direct Materials
29,000
30,000
Work-in-Process Inventory
42,000
35,000
Finished Goods Inventory
22,000
26,000
Other information:
Purchases of direct materials
76,000
Direct labor
89,000
Manufacturing overhead
44,000
%24
%24
Transcribed Image Text:Balances: Beginning Ending Direct Materials 29,000 30,000 Work-in-Process Inventory 42,000 35,000 Finished Goods Inventory 22,000 26,000 Other information: Purchases of direct materials 76,000 Direct labor 89,000 Manufacturing overhead 44,000 %24 %24
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