Wasik Company had the following inventory balances at the beginning and end of August 2013:   August 1 August 31 Raw material inventory 58,000 84,000 Work in Process Inventory 372,000 436,000 Finished Goods Inventory 224,000 196,000 All raw material is direct to the production process. The following information is also available about August manufacturing costs:   Cost of raw material used 612,000   Direct labor cost 748,000   Manufacturing overhead 564,000   a.) Calculate the cost of goods manufactured for August

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Wasik Company had the following inventory balances at the beginning and end of August 2013:

 

August 1 August 31

Raw material inventory 58,000 84,000

Work in Process Inventory 372,000 436,000

Finished Goods Inventory 224,000 196,000

All raw material is direct to the production process. The following information is also available about August manufacturing costs:

 

Cost of raw material used 612,000

 

Direct labor cost 748,000

 

Manufacturing overhead 564,000

 

a.) Calculate the cost of goods manufactured for August

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