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 36,000 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 Manutctured. 49,000 33,000 28,000 39,000 30,000 22,000 Glenville Company Statement of Cost of Goods Manufactured Total manufacturing costs incurred in April Total manufacturing costs Cost of goods manufactured

Explanation / Answer

Statement of Cost of Goods Manufactured Work in process inventory,April 1 28,000 cost of direct materials used in production 36,000 Direct labor 49,000 factory overhead 33,000 total manufacturing costs incurred during April 118,000 total manufacturing costs. 146,000 Work in process inventory,April 30 39,000 Cost of goods manufactured 107,000 Statement of Cost of goods sold Finished goods inventory,April 1 30,000 Cost of goods manufactured 107,000 cost of goods avaialble for sale 137,000 Finished goods inventory,April 30 22,000 cost of goods sold 115,000

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