eBook Show Me How Calculator Cost of Goods Manufactured for

eBook Show Me How Calculator Cost of Goods Manufactured for a Manufacturing Company Two items are omitted from each of the following three lists of cost of goods manufactured statement data. Determine the amounts of the missing items, identifying them by letter. Work in process inventory, August 1 Total manufacturing costs incurred during August Total manufacturing costs Work in process inventory, August 31 Cost of goods manufactured $19,660 $41,650 332,750 (c) 1,075,000 (a) $515,770 $1,240,000 23,50054,000 (d) $1,063,000 a. b. C. d. 232 PM

Solution

a Total manufacturing costs = 19660+332750= 352410 b Cost of goods manufactured = 352410-23500= 328910 c Total manufacturing costs incurred during August = 515770-41650= 474120 d Cost of goods manufactured = 515770-54000= 461770 e Work in Process August 1 = 1240000-1075000= 165000 f Work in Process August 31 = 1240000-1068000= 172000