Question

The following information was extracted from Manuco.'s financial documents. Beginning raw materials inventory $55,000 Ending raw...

The following information was extracted from Manuco.'s financial documents.

Beginning raw materials inventory $55,000
Ending raw materials inventory $29,000
Beginning work-in-process inventory $23,000
Ending work-in-process inventory $60,000
Beginning finished goods inventory $30,000
Ending finished goods inventory $55,000
Raw materials purchased during the period $86,000
Total direct labor cost during the period $76,000
Total factory overhead cost during the period $18,000


Assuming that all raw materials are direct materials, calculate the cost of raw materials requisitioned, cost of goods manufactured, and cost of goods sold based on the provided information.

Homework Answers

Answer #1
1) Beginning raw materials 55,000
Raw materials purchased during the period 86,000
Raw materials available 141,000
less ending raw materials 29,000
Raw materials requistioned 112,000
2) Raw materials used in production 112,000
total direct labor cost during the period 76,000
total factory overhead cost during the period 18,000
total manufacturing cost during the period 206,000
add Work in process inventory 23,000
total 229,000
less ending work in process inventory 60,000
cost of goods manufactured 169,000
3) Beginning finished goods inventory 30,000
cost of goods manufactured 169,000
cost of goods available for sale 199,000
less ending finished goods inventory 55,000
cost of goods sold 144,000
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