Consider the following partially completed schedules of cost

Consider the following partially completed schedules of cost of goods manufactured. Compute the missing amounts. (Click the icon to view the schedules.) Jones Inc. Beginning Work-in-Process InventoryL Direct Materials Used Direct Labor Manufacturing Overhead Total Manufacturing Costs Incurred 14,500 10,700 45,700 during the Year Total Manufacturing Costs to 55,800 Account For Ending Work-in-Process Inventory Cost of Goods Manufactured 51,300

Solution

Beginning work in process inventory 10100 Direct materials used 14500 Direct labor 10700 Manufacturing overhead 20500 Total manufacturing costs incurred during the year 45700 Total manufacturing costs to account for 55800 Ending work in process inventory 4500 Cost of goods manufactured 51300