Calculate Cost of Goods Manufactured for 2019 using the following information. Direct Materials, Jan. 1, 2019 $ 40,000 Work-in-P

Question

2 years ago

10

Calculate Cost of Goods Manufactured for 2019 using the following information. Direct Materials, Jan. 1, 2019 $ 40,000 Work-in-P

rocess, Dec. 31, 2019 69,000 Direct Labor 48,500 Finished Goods, Dec. 31, 2019 105,000 Finished Goods, Jan. 1, 2019 128,000 Manufacturing Overhead 72,500 Direct Materials, Dec. 31, 2019 43,000 Work-in Process, Jan. 1, 2019 87,000 Purchases of Direct Material 75,000

Business

2 answers:

Soloha48 [4] · Answer 1 · 2022-09-15T05:39:27+03:00

Soloha48 [4]2 years ago

6 0

Answer:

sry need to answer (points) :(

Explanation:

Aleksandr [31] · Answer 2 · 2022-09-15T03:23:11+03:00

Answer:

$234,000

Explanation:

Calculation to determine the Cost of Goods Manufactured for 2019

First step is to calculate the direct materials used in production

Direct materials used in production=$40,000+$75,000-$43,000

Direct materials used in production=$72,000

Second step is to calculate the COGM

COGM=$87,000+$72,000+$48,500+$72,500-$69,000

COGM=$211,000

Now let calculate the COGS

COGS=$128,000+$211,000-$105,000

COGS=$234,000

Therefore the Cost of Goods Manufactured for 2019 is $234,000