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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

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  1. 17 July, 21:14
    0
    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.
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