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Martin Enterprises Inventories: April 1 April 30 Raw material $20,000 $17,000 Work in process 12,000 8,000...

Martin Enterprises

Inventories: April 1 April 30
Raw material $20,000 $17,000
Work in process 12,000 8,000
Finished goods 30,000 39,000
Additional information for April:
Raw material purchased $45,000
Direct labor payroll $36,000
Direct labor rate per hour $8.00
Overhead rate per direct labor hour $10.00

Refer to Martin Enterprises. For April, Cost of Goods Manufactured was

Select one:

a. $133,000

b. $121,000

c. $125,000

d. $141,000

Business   Accounting   
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Homework Answers

Answer #1

Option a $133,000 is the correct answer.

Explanation:

Direct Labor Payroll = Direct labor rate per hour * No of hours worked

$36,000 = $8 * No of hours worked

Therefore, No of hours worked = 4,500 hours

Computation of goods manufactured in the month of April:

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