Question - Cost of Goods Manufactured
Candy's Chocolate Shoppe had the following information available for the month of September:
|
|
Beginning
|
Ending
|
|
Raw materials inventory
|
$46,000
|
$26,000
|
|
Work in process inventory
|
31,000
|
41,000
|
|
Finished-goods inventory
|
36,000
|
26,000
|
|
Raw materials purchased
|
|
113,000
|
|
Direct labor (2,500 hrs @ $8)
|
|
20,000
|
|
Overhead
|
|
56,000
|
Required: Calculate the cost of goods manufactured for the month.