Tim's Teddy Bears makes high-end collectible teddy bears. During the current month, the purchasing manager purchased $52,300
Question:
Tim's Teddy Bears makes high-end collectible teddy bears. During the current month, the purchasing manager purchased $52,300 worth of materials. At the beginning of the month, Tim had 50 partially finished teddy bears. The cost of these partially finished bears was $6,700. During the month, the company incurred the following costs to complete these units and to start up and complete 5,150 new units. At the end of the month, there were 0 teddy bears in the Work in Process Inventory; all the teddy bears had been completed.
Used Direct Materials $38,300
Direct salaried labor $19,100
Indirect labor wages $5,900
Production Manager Salary $4,200
Renta factorial $2,900
Factory utilities $2,870
Factory Insurance $1,080
Factory cleaning services $400
What is the cost of goods manufactured for the period?
Essentials of Business Analytics
ISBN: 978-1285187273
1st edition
Authors: Jeffrey Camm, James Cochran, Michael Fry, Jeffrey Ohlmann, David Anderson, Dennis Sweeney, Thomas Williams