Ink Technology$$s Work in Process Inventory account has a beginning balance of $$50,000$ and an ending balance of $$40,000.$ Direct materials used are $$70,000$ and direct labor incurred totals $$35,000.$ Cost of goods sold totals $$135,000.$ Manufacturing overhead applied is $$20,000.$ How much is cost of goods manufactured?

Answer rating: 100% (QA)

To calculate the cost of goods manufactured we use the formula Cost of Goods Manufactured Beginning Work in Process Inventory Direct Materials Used Di... View the full answer