Use the following information to perform the calculations below. Materials Inventory, Jan 1, 2023 18,460 Materials Inventory,
Question:
Use the following information to perform the calculations below.
Materials Inventory, Jan 1, 2023 18,460
Materials Inventory, Dec 31, 2023 31,200
Work in process, Jan 1, 2023 96,600
Work in process, Dec 31, 2023 84,700
Finished goods, Jan 1, 2023 126,900
Finished goods, Dec 31, 2023 97,130
Sales $308,690
Office Copier depreciation 55,600
Indirect materials 22,200
Direct labor 87,650
Indirect labor 36,900
Advertising expense 73,500
Materials purchased 83,100
Taxes, Factory Building 43,000
Show your work for each part.
a. Calculate total manufacturing costs for 2023. (4 Points)
b. Calculate cost of goods manufactured for 2023. (4 Points)
c. Calculate cost of goods sold for 2023. (4 Points)
Cost Management Measuring, Monitoring and Motivating Performance
ISBN: 978-1119185697
3rd Canadian edition
Authors: Leslie G. Eldenburg, Susan K. Wolcott, Liang Hsuan Chen, Gail Cook