Question: I need assistance with this general accounting question using appropriate principles. The information below relates to Derby Manufacturing Company's operations for a recent month. (Assume
I need assistance with this general accounting question using appropriate principles.
The information below relates to Derby Manufacturing Company's operations for a recent month. (Assume that all raw materials are direct materials): Purchases of raw materials: $85,000 Direct labor cost: $135,000 -Selling costs (total): $45,000 -Administrative costs (total): $52,000 -Manufacturing overhead costs (total): $290,000 Raw materials inventory, beginning: $25,000 -Work in process inventory, beginning: $30,000 -Finished goods inventory, beginning: $38,000 Raw materials inventory, ending: $10,000 -Work in process inventory, ending: $ 10,000 Finished goods inventory, ending: $20,000 What was Derby's cost of goods manufactured for the month? a. $510,000 b. $515,000 c. $525,000 d. $530,000