Question

1.) If the cost of the beginning work in process inventory is $56,000, direct materials cost is $346,000, direct labor cost is $212,000, and overhead cost is $315,000, and the ending work in process inventory is $51,000, calculate the cost of goods manufactured:

$980,000.

$563,000.

$873,000.

$878,000.

$929,000.

2.)

Using the information below for Laurels Company; determine the manufacturing costs added during the current year:

    

Direct materials used	$ 6,900
Direct labor	8,900
Total Factory overhead	7,000
Beginning work in process	4,900
Ending work in process	7,800

$22,800.

$19,300.

$19,900.

$15,800.

$25,700.

3.)

Using the information below for Sundar Company; determine the total manufacturing costs added during the current year:

Direct materials used	$19,200
Direct labor used	24,700
Factory overhead	54,100
Beginning work in process	10,900
Ending work in process	11,500

$98,000.

$43,900.

$97,400.

$43,300.

$78,200.

4.)

Craigmont Company's direct materials costs are $3,900,000, its direct labor costs total $7,810,000, and its factory overhead costs total $5,810,000. Its conversion costs total:

$11,710,000.

$9,710,000.

$13,620,000.

$5,900,000.

$17,520,000.

Answer 1

the cost of goods manufactured

cost of goods manufactured is the costs of: direct materials used + direct labor used + manufacturing overhead assigned = the manufacturing costs incurred in the current accounting period + beginning work-in-process inventory - ending work-in-process inventory.

346000+212000+ 315000+56000-51000=878000

manufacturing costs added during the current year:

6900+8900+7000+4900-7800= 19900

the total manufacturing costs added during the current year:

Direct materials used$19,200+Direct labor used24,700+Factory overhead54,100+Beginning work in process10,900 -Ending work in process11,500= 97400

conversion costs

Conversion costs are the combination of direct labor costs plus manufacturing overhead costs.

7810000+5810000= 13620000