The Wellington Manufacturing Company incurred direct labor costs of $325,000, and manufacturing overhead amounted to $214,000 during the year ended 30 June 2023. Materials purchases for the year were $275,000. Opening and closing inventories were as follows: Item 1 July 2022 30 June 2023 Direct materials $64,000 $58,000 Work-in-process 42,000 49,000 Finished goods 105,000 97,000 Required: 1. Calculate the Cost of Goods Manufactured by Wellington Manufacturing Company. 2. The Cost of Goods Sold by Wellington Manufacturing Company.

The Wellington Manufacturing Company incurred direct labor costs of $325,000, and manufacturing overhead amounted to $214,000 during the year ended 30 June 2023. Materials purchases for the year were $275,000. Opening and closing inventories were as follows: Item 1 July 2022 30 June 2023 Direct materials $64,000 $58,000 Work-in-process 42,000 49,000 Finished goods 105,000 97,000 Required: 1. Calculate the Cost of Goods Manufactured by Wellington Manufacturing Company. 2. The Cost of Goods Sold by Wellington 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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