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Cost of Goods Manufactured for a Manufacturing Company Two items are omitted from each of the...

Cost of Goods Manufactured for a Manufacturing Company

Two items are omitted from each of the following three lists of cost of goods manufactured statement data. Determine the amounts of the missing items, identifying them by letter.

Work in process inventory, August 1 $3,900 $32,000 (e)
Total manufacturing costs incurred during August 26,900 (c) 187,200
Total manufacturing costs (a) $374,400 $203,200
Work in process inventory, August 31 5,900 78,600 (f)
Cost of goods manufactured (b) (d) $170,700
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Answer #1

Work in process inventory, August 1+Total manufacturing costs incurred during August=Total manufacturing cost

Total manufacturing cost-Work in process inventory, August 31=Cost of goods manufactured

Work in process inventory, August 1 3900 32,000 (203,200-187,200)=$16,000
Total manufacturing costs incurred during August 26900 (374400-32,000)=$342,400 187200
Total manufacturing cost (3900+26900)=$30800 374400 203200
Work in process inventory, August 31 5900 78600 (203200-170700)=$32500
Cost of goods manufactured (30800-5900)=$24900 (374400-78600)=$295800 170700
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