Cost of Goods Sold, Cost of Goods Manufactured Glenville Company has the followi

Question

Cost of Goods Sold, Cost of Goods Manufactured Glenville Company has the following information for April: Cost of direct materials used in production Direct labor Factory overhead Work in process inventory, April 1 Work in process inventory, April 30 Finished goods inventory, April 1 Finished goods inventory, April 30 a. For April, determine the cost of goods manufactured Using the data given, prepare a statement of Cost of Goods Manufactured $280,000 324,000 188,900 72,300 76,800 39,600 41,200 Glenville Company Statement of Cost of Goods Manufactured Total manufacturing costs incurred during April Total manufacturing costs Cost of goods manufactured

Explanation / Answer

Statement of Cost of Goods Manufactured Work in process inventory,April 1 72,300 cost of direct materials used in production 280,000 Direct labor 324,000 factory overhead 188,900 total manufacturing costs incurred during April 792,900 total manufacturing costs. 865,200 Work in process inventory,April 30 76,800 Cost of goods manufactured 788,400 Statement of Cost of goods sold Finished goods inventory,April 1 39,600 Cost of goods manufactured 788,400 cost of goods avaialble for sale 828,000 Finished goods inventory,April 30 41,200 cost of goods sold 786,800

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