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19 February, 07:30

During April, the Meade Enterprises had the following operating results: Sales revenue $ 1,660,000 Gross margin $ 680,000 Ending work-in-process inventory $ 58,000 Beginning work-in-process inventory $ 96,000 Ending finished goods inventory $ 108,000 Beginning finished goods inventory $ 141,000 Marketing costs $ 266,000 Administrative costs $ 166,000 What is the cost of goods manufactured for April

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  1. 19 February, 07:49
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    cost of good manufacture = $947000

    Explanation:

    given data

    Sales revenue = $1,660,000

    Gross margin = $680,000

    Ending work-in-process inventory = $58,000

    Beginning work-in-process inventory = $96,000

    Ending finished goods inventory = $108,000

    Beginning finished goods inventory = $141,000

    Marketing costs = $266,000

    Administrative costs = $166,000

    solution

    cost of goods manufactured for we first we get

    cost of good sold = sale revenue - gross margin ... 1

    cost of good sold = $1,660,000 - $680,000

    cost of good sold = $980000

    and

    now we get cost of good manufacture that is

    cost of good manufacture = cost of good sold + Ending finished goods inventory - Beginning finished goods inventory ... 2

    cost of good manufacture = $980000 + $108,000 - $141,000

    cost of good manufacture = $947000
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