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18 November, 18:02

Use the following inventory data for Caddy Golf Company to compute the cost of goods manufactured for the year: Data TableDirect Materials Used $ 12,000 Manufacturing Overhead 21,000Work-in-Process Inventory: Beginning Balance 1,000Ending Balance 5,000Direct Labor 9,000Finished Goods Inventory: Beginning Balance 18,000Ending Balance 4,000

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  1. 18 November, 18:08
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    Cost of goods manufactured 38,000

    Cost of Goods Sold 52,000

    Explanation:

    First we calcualte the cost added during the period:

    Direct Materials used 12,000

    Direct Labor 9,000

    Manufacturing Overhead 21,000

    Total cost added 42,000

    Then, we calculate the cost of goods manufactured or trasnferred-out

    WIP beginning balance 1,000

    Cost added during the period 42,000

    WIP ending balance (5,000)

    Cost of goods manufactured 38,000

    Finally, we calcualte the cost of goods sold

    Finished goods beginning 18,000

    Cost of goods manufactured 38,000

    ending (4,000)

    Cost of Goods Sold 52,000
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