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8 March, 17:38

alph's Cafe Company has the following information for June. Cost of materials placed in production $45,000 Direct labor 20,000 Factory overhead 14,000 Work in process inventory, June 1 2,900 Work in process inventory, June 30 3,500 Finished goods inventory, June 1 5,000 Finished goods inventory, June 30 4,700 What is the cost of goods sold?

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  1. 8 March, 17:43
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    The cost of goods sold is $ 78,700.

    Explanation:

    The cost of good sold includes cost related to finished good that are sold to customers. The detail calculation is given below.

    opening WIP $ 2,900

    Cost of materials $ 45,000

    Direct labor $ 20,000

    Factory overhead $ 14,000

    Closing WIP ($ 3,500)

    Cost transferred to FG $ 78,400

    Opening FG inventoy $ 5,000

    Closing FG inventory ($ 4,700)

    Cost of good Sold $ 78,700
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