Current information for the Stellar Corporation follows: Beginning work in process inventory: $36,900 Ending work in process inventory: 38,300 Direct materials used: 166,000 Direct labor used: 104,000 Total factory overhead: 82,100 Stellar Corporation's cost of goods manufactured for the year is:A. $353,500. B. $352,100. C. $350,700. D. $313,800. E. $389,000.

Question

Miranda Collins

Business

2 June, 16:02

Current information for the Stellar Corporation follows: Beginning work in process inventory: $36,900 Ending work in process inventory: 38,300 Direct materials used: 166,000 Direct labor used: 104,000 Total factory overhead: 82,100 Stellar Corporation's cost of goods manufactured for the year is:A. $353,500. B. $352,100. C. $350,700. D. $313,800. E. $389,000.

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Peterson · Answer 1

Stellar Corporation's cost of goods manufactured for the year is C. $350,700

Explanation:

Cost of goods manufactured for the year = Beginning work in process inventory + Direct materials used + Direct labor used + factory overhead - Ending work in process inventory = $36,900 + $166,000 + $104,000 + $82,100 - $38,300 = $350,700

Stellar Corporation's cost of goods manufactured for the year is $350,700