Calculate the costs of goods manufactured


Able corporation incurred the following costs:

Beginning direct materials inventory $ 16,000
Beginning work in process inventory $ 7,000
Beginning finished goods inventory $ 19,000
Ending direct materials inventory $ 16,000
Ending work process $ 14,000
Ending finished goods $ 26,000
Factory supervisor's salary $ 28,000
Depreciation on plant $ 12,000
Sales $ 800,000
Selling and admnistrative expenses $ 125,000
Plant maintenence $ 6,000
Plant utilities $ 11,000
Direct material purchases $ 215,000
Direct labor $ 240,000

Calculate the following
a) Direct material used
b) costs of goods manufactured
c) costs of goods sold
d) operating income

 

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Calculate the costs of goods manufactured
Reference No:- TGS047666

Expected delivery within 24 Hours