Question

The following information was obtained from the cost of goods manufactured statement of ABC company but...

The following information was obtained from the cost of goods manufactured statement of ABC company but with some missing values, the missing value is

Direct Material used 120,000

Direct labor cost 80,000

conversion cost 150,000

total manufacturing cost ?

[[selectone]]

a. $350,000

b. $270,000

c. $230,000

d. $200,000

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Answer #1

Total Manufacturing Cost :-

Direct Material used = $ 120,000

Direct Labor cost = $ 80,000

Total Manufacturing Cost = Direct Material Used + Direct Labor Cost

  = $ 120,000 + $ 80,000

= $ 200,000

Total Manufacturing Cost = $ 200,000

So, the Answer is (D) = $200,000

Notes :- Conversion Cost is not included , because Conversion Cost is the Adding of  Direct Labor Cost And Manufacturing Overhead Cost ( Manufacturing Overhead Cost are all Indirect Manufacturing Costs )

Converstion Cost = Direct Labor Cost + Manufacturing Overhead Cost

So, Manufacturing Overhead Cost = Conversion Cost - Direct Labor Cost

= $ 150,000 - $ 80,000

= $ 70,000

Manufacturing Overhead Cost = $ 70,000
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