Question 4

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Part 3:

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Marigold Corp.reported the following year-end information: beginning work in process inventory, $220000; cost of goods manufactured $866000; beginning finished goods inventory, $282000; ending work in process inventory. $260000; and ending finished goods inventory, $304000. Marigold Corp.'s cost of goods sold for the year is $844000. $826000 $888000 $562000 Assuming that the direct materials used are $1780000, compute the total manufacturing costs using the following information. $20000 Raw materials inventory, January 1 Raw materials inventory, December 31 40000 18000 12000 Work in process, January 1 Work in process, December 31 Finished goods, January 1 Finished goods, December 31 Raw materials purchases 40000 32000 1800000 Direct labor 760000 150000 Factory utilities Indirect labor 50000 400000 Factory depreciation Operating expenses 420000 $2960000 $3146000 $3140000 $3560000 Given the following data for Glennon Company, compute (A) total manufacturing costs and (B) costs of goods manufactured: Direct materials used $360000 Beginning work in process $40000 Direct labor 280000 Ending work in process 20000 Manufacturing overhead 330000 Beginning finished goods 50000 Operating expenses 430000 Ending finished goods 30000 (A) (B) $970000 $990000 $970000 $950000 $950000 $990000 $990000 $1010000