28 February, 01:51

# The following information is available for Tomlin Company.April 1 April 30Raw materials inventory \$10,000 \$14,400Work in process inventory 4,830 3,290Materials purchased in April \$97,900Direct labor in April 80,300Manufacturing overhead in April 155,000Prepare the cost of goods manufactured schedule for the month of April.

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1. 28 February, 01:55
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cost of goods manufactured = \$330,340

Explanation:

Giving the following information:

April 1 April 30

Raw materials inventory \$10,000 \$14,400

Work in process inventory 4,830 3,290

Materials purchased in April \$97,900

Direct labor in April 80,300

To calculate the cost of goods manufactured, we need to use the following formula:

cost of goods manufactured = beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

Direct material used = beginning inventory + purchases - ending inventory

Direct material used = 10,000 + 97,900 - 14,400 = \$93,500

cost of goods manufactured = 4,830 + 93,500 + 80,300 + 155,000 - 3,290

cost of goods manufactured = \$330,340