The Weaver Manufacturing Company incurred direct labor costs of $233,000, and manufacturing overhead amounted to $186,000 during the year ended 30 June 2012. Materials purchases for the year were $210,000. Opening and closing inventories were as follows: Item 1 July 2011 30 June 2012 Direct materials $53,000 Work-in-process 35,000 Finished goods 92,000 Required: $47,000 41,000 84,000 1. Calculate the Cost of Goods Manufactured by Weaver Manufacturing Company. 2. The Cost of Goods Sold by Weaver Manufacturing Company.

The Weaver Manufacturing Company incurred direct labor costs of $233,000, and manufacturing overhead amounted to $186,000 during the year ended 30 June 2012. Materials purchases for the year were $210,000. Opening and closing inventories were as follows: Item 1 July 2011 30 June 2012 Direct materials $53,000 Work-in-process 35,000 Finished goods 92,000 Required: $47,000 41,000 84,000 1. Calculate the Cost of Goods Manufactured by Weaver Manufacturing Company. 2. The Cost of Goods Sold by Weaver Manufacturing Company.

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...

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Calculate cost of goods sold?
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Opening and closing inventories
Direct labour cost accounting problem