Question: Question 3: B & T Ltd. has the below inventory balances and other information at the end of Dec 2020. Balances Beginning Ending Direct Material
Question 3:
B & T Ltd. has the below inventory balances and other information at the end of Dec 2020.
| Balances | ||
| Beginning | Ending | |
| Direct Material | $ 11,750.00 | $ 8,000.00 |
| Working in Process Inventory | $ 1,850.00 | $ 3,500.00 |
| Finished Goods Inventory | $ 1,200.00 | $ 3,800.00 |
| Other information | ||
| Purchase of Direct Material | $ 40,000.00 | |
| Factory Supervisor Salaries | $ 5,750.00 | |
| Sales Salaries and Commissions | $ 7,250.00 | |
| Delivery Cost | $ 1,400.00 | |
| Sales Revenue | $ 115,000.00 | |
| Factory Utility Costs | $ 1,200.00 | |
| Factory Rent | $ 17,750.00 | |
| Direct Labor | $ 25,000.00 | |
Required:
Please calculate the amount of cost of goods manufactured.
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