Cost of Goods Manufactured for a Manufacturing Company The f

Cost of Goods Manufactured for a Manufacturing Company The following information is available for Ethtridge Manufacturing Company for the month ending July 31: Cost of direct materials used in production Direct labor Work in process inventory, July 1 Work in process inventory, July 31 Total factory overhead $103,400 124,100 46,500 63,100 56,900 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 Manufacturing costs incurred during July: Total manufacturing costs incurred Total manufacturing costs Cost of goods manufactured

Solution

Statement of cost of goods manufactured: Work-in process inventory,July 1 46500 Manufacturing cost incurred during july Cost of direct materials used in production 103400 Direct labor 124100 Total factory overhead 56900 284400 330900 Less: Work-in process inventory,July 31 63100 Cost of goods manufactured 267800