Karmon audio, inc. manufactures speakers. during march, karmons transactions and accounts included the following: raw materials acquired for cash $82,500 cost of direct materials used in production 81,900 costs to ship products to customers 1,000 direct labor cost incurred 41,000 total manufacturing overhead incurred 25,000 raw materials inventory, beginning 3,500 raw materials inventory, ending 3,600 work in process inventory, beginning 12,000 work in process inventory, ending 14,200 how much is cost of goods manufactured for march?

Question

Julian Mcgee

Business

20 November, 16:27

Karmon audio, inc. manufactures speakers. during march, karmons transactions and accounts included the following: raw materials acquired for cash $82,500 cost of direct materials used in production 81,900 costs to ship products to customers 1,000 direct labor cost incurred 41,000 total manufacturing overhead incurred 25,000 raw materials inventory, beginning 3,500 raw materials inventory, ending 3,600 work in process inventory, beginning 12,000 work in process inventory, ending 14,200 how much is cost of goods manufactured for march?

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Reynaldo Kirby · Answer 1

Given:

raw materials acquired for cash $82,500

cost of direct materials used in production 81,900

costs to ship products to customers 1,000

direct labor cost incurred 41,000

total manufacturing overhead incurred 25,000

raw materials inventory, beginning 3,500

raw materials inventory, ending 3,600

work in process inventory, beginning 12,000

work in process inventory, ending 14,200

Total Manufacturing Cost

Cost of Direct Materials used in production 81,900

Direct labor cost incurred 41,000

Total manufacturing overhead incurred 25,000

Sum total 147,900

Cost of Goods Manufactured:

Total Manufacturing Cost 147,900

Add: Beginning Work in process inventory 12,000

Deduct: Ending Work in process inventory - 14,200

Cost of Goods Manufactured: 145,700