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Allen Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during the...

Allen Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during the current Indirect labor amounted to $2,700 while indirect materials used totaled $1,600. Other operating costs pertaining to the factory included utilities of $3,100, maintenance of $4,500, supplies of $1,800, depreciation of $7,900, and property taxes of $2,600. There was no beginning or ending finished goods inventory, but work in process inventory began the year with a $5,500 balance and ended the year with a $7,500 balance.

What is the cost of goods manufactured? (amount only)

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Answer #1
Cost of goods manufactured:
$ $
Direct materials used 71000
Direct labor costs 37000
Manufacturing overhead:
Indirect labor 2700
Indirect materials 1600
Utilities 3100
Maintenance 4500
Supplies 1800
Depreciation 7900
Property taxes 2600 24200
Total manufacturing cost incurred 132200
Add:Beginning WIP 5500
137700
Less: Ending WIP 7500
Cost of goods manufactured 130200
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