The information below relates to Derby Manufacturing Company's operations for a recent month. (Assume that all raw materials are direct materials): Purchases of raw materials Direct labor cost Selling costs (total) Administrative costs (total) Manufacturing overhead costs (total) Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $91,000 $122,000 $42,000 $56,000 $340,000 $22,000 $27,000 $42,000 $7,000 $35,000 $15,000 What was Derby's cost of goods manufactured for the month? a. $545,000 b. $560,000 c. $568,000 d. $587,000
The information below relates to Derby Manufacturing Company's operations for a recent month. (Assume that all raw materials are direct materials): Purchases of raw materials Direct labor cost Selling costs (total) Administrative costs (total) Manufacturing overhead costs (total) Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $91,000 $122,000 $42,000 $56,000 $340,000 $22,000 $27,000 $42,000 $7,000 $35,000 $15,000 What was Derby's cost of goods manufactured for the month? a. $545,000 b. $560,000 c. $568,000 d. $587,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:The information below relates to Derby Manufacturing Company's operations for a recent month.
(Assume that all raw materials are direct materials):
Purchases of raw materials
Direct labor cost
Selling costs (total)
Administrative costs (total)
Manufacturing overhead costs (total)
Raw materials inventory, beginning
Work in process inventory, beginning
Finished goods inventory, beginning
Raw materials inventory, ending
Work in process inventory, ending
Finished goods inventory, ending
$91,000
$122,000
$42,000
$56,000
$340,000
$22,000
$27,000
$42,000
$7,000
$35,000
$15,000
What was Derby's cost of goods manufactured for the month?
a. $545,000
b. $560,000
c. $568,000
d. $587,000
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