Question

Inventory type Raw materials Work in process Finished goods   Balance, 4/1/18 300,000 2,650,000 4,000,000 Balance, 4/30/18...

Inventory type Raw materials Work in process Finished goods  
Balance, 4/1/18 300,000 2,650,000 4,000,000
Balance, 4/30/18 320,000 1,080,000 3,830,000
Amounts spent during April
   Raw material purchases 1,650,000
   Direct labor wages 9,000,000
   Overhead
     Indirect materials purchased 477,000
     Indirect labor 2,700,000
     Factory utilities 1,608,000
     Factory depreciation 920,000
What is cost of goods manufactured for April?
What is cost of goods sold for April?

Homework Answers

Answer #1

Cost of Goods Manufactured for April

$
Raw Material on 04/01/18 300,000
Add : Raw material Purchased 1,650,000
1,950,000
Less Closing Raw material 320,000
cost of material used 1,630,000
Add Direct Labor 9,000,000
Add opening WIP 2,650,000
13,280,000
Less Closing WIP 1,080,000
Cost of goods manufactured for April 12,200,000
Add Indirect material used 477,000
Indirect labor 2,700,000
Factory utilities 1,608,000
Factory Depreciation 920,000
Add Opening finished goods 4,000,000
Less Closing finished goods 3,830,000
Cost of goods sold for April 18,075,000
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