The following information is available for Ethtridge Manufacturing Company for the month ending July 31: Cost of direct materials used in production $136,300 Direct labor 163,600 Work in process inventory, July 1 61,300 Work in process inventory, July 31 83,100 Total factory overhead 75,000 Determine Ethtridge's cost of goods manufactured for the month ended July 31. Ethtridge Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended July 31 $fill in the blank 2 Manufacturing costs incurred during July: $fill in the blank 4 fill in the blank 6 fill in the blank 8 Total manufacturing costs incurred fill in the blank 9 Total manufacturing costs $fill in the blank 10 fill in the blank 12 Cost of goods manufactured $fill in the blank 13
The following information is available for Ethtridge Manufacturing Company for the month ending July 31: Cost of direct materials used in production $136,300 Direct labor 163,600 Work in process inventory, July 1 61,300 Work in process inventory, July 31 83,100 Total factory overhead 75,000 Determine Ethtridge's cost of goods manufactured for the month ended July 31. Ethtridge Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended July 31 $fill in the blank 2 Manufacturing costs incurred during July: $fill in the blank 4 fill in the blank 6 fill in the blank 8 Total manufacturing costs incurred fill in the blank 9 Total manufacturing costs $fill in the blank 10 fill in the blank 12 Cost of goods manufactured $fill in the blank 13
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The following information is available for Ethtridge Manufacturing Company for the month ending July 31:
| Cost of direct materials used in production | $136,300 |
| Direct labor | 163,600 |
| Work in process inventory, July 1 | 61,300 |
| Work in process inventory, July 31 | 83,100 |
| Total factory |
75,000 |
Determine Ethtridge's cost of goods manufactured for the month ended July 31.
| Ethtridge Manufacturing Company | ||
| Statement of Cost of Goods Manufactured | ||
| For the Month Ended July 31 | ||
| $fill in the blank 2 | ||
| $fill in the blank 4 | ||
| fill in the blank 6 | ||
| fill in the blank 8 | ||
| Total manufacturing costs incurred | fill in the blank 9 | |
| Total manufacturing costs | $fill in the blank 10 | |
| fill in the blank 12 | ||
| Cost of goods manufactured | $fill in the blank 13 |
Expert Solution
Step 1
Cost of goods manufactured = Beginning Work in process inventory + Total manufacturing costs incurred -Ending Work in process inventory
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