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Use the following information to compute the cost of goods manufactured. Assume that all raw materials used were traceable to specific units of product.
Beginning raw materials $ 5,700
Ending raw materials 4,200
Direct labor 12,450
Raw material purchases 7,600
Depreciation on factory equipment 6,700
Factory repairs and maintenance 3,500
Beginning finished goods inventory 10,400
Ending finished goods inventory 9,100
Beginning work in process inventory 5,900
Ending work in process inventory 6,500

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abiolataiwo2015

Answer:

$31,150

Explanation:

Computation for cost of goods manufactured

Using this formula

Cost of goods manufactured=(Beginning raw materials+Raw Materials Purchased−Ending Raw Materials) +Direct Labor + (Depreciation on Factory Equipment + Factory Repairs and Maintenance) + Beginning Work in Process−Ending Work in Process

Let plug in the formula

Cost of Goods Manufactured =($ 5,700+7,600-4,200) +12,450+(6,700+3,500) +5,900-6,500

Cost of Goods Manufactured=9,100+12,450+10,200-600

Cost of Goods Manufactured=$31,150

Therefore the cost of goods manufactured will be $31,150

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