Ragtime Company had the following information for the year:

Direct materials used $117,700

Direct labor incurred (5,100 hours) $153,800

Actual manufacturing overhead incurred $174,200

Ragtime Company used a predetermined overhead rate of $36 per direct labor hour for the year. Assume the only inventory balance is an ending Work in Process Inventory balance of $17,900. What was cost of goods manufactured?

a. $437,200

b. $445,700

c. $271,500

d. $455,600

Question

Lesly

Business

17 July, 20:49

Ragtime Company had the following information for the year:

Direct materials used $117,700

Direct labor incurred (5,100 hours) $153,800

Actual manufacturing overhead incurred $174,200

Ragtime Company used a predetermined overhead rate of $36 per direct labor hour for the year. Assume the only inventory balance is an ending Work in Process Inventory balance of $17,900. What was cost of goods manufactured?

a. $437,200

b. $445,700

c. $271,500

d. $455,600

+3

Answers (1)

Know the Answer?

Chance Mueller · Answer 1

a. $437,200

Explanation:

Direct material Cost $117,700

Direct Labor $153,800

Manufacturing Overhead $183,600

Total manufacturing Cost $455,100

- Ending Work-in-Process $17,900

Cost of Goods Manufactured $437,200

So, The cost of Goods manufactured was $437,200.