Question

Compute the total manufacturing costs using the following information. Raw materials inventory, January 1 $ 20000...

Compute the total manufacturing costs using the following information.

Raw materials inventory, January 1 $ 20000
Raw materials inventory, December 31 40000
Work in process, January 1 18000
Work in process, December 31 12000
Finished goods, January 1 40000
Finished goods, December 31 32000
Raw materials purchases 1700000
Direct labor 760000
Factory utilities 150000
Indirect labor 50000
Factory depreciation 400000
Operating expenses 420000
$2860000.
$3040000.
$3046000.
$3460000.

Homework Answers

Answer #1
Calculation of Total Manufacturing Costs
Raw materials inventory , January 1 20,000
Add:Raw materials purchases 1,700,000
Raw Material available for use 1,720,000
Less:Raw materials inventory , March 31 -40,000
Raw material used 1,680,000
Direct labor 760,000
Manufacturing Overheads:
Factory utilities 150,000
Indirect labor 50,000
Factory depreciation 400,000
Total Manufacturing overheads 600,000
Total Manufacturing Cost $3,040,000

the total manufacturing costs $3040000.

Second option is correct.

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