Ch2_cost+flow+example - 3. What is the cost of goods...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
My Company bought $10,000 of direct material during April, incurred $8,000 in direct labor cost, and had $12,000 in manufacturing overhead. Inventories for April were as follows: Beginning Ending Raw material $1,000 $2,000 Work in Process $3,000 $5,000 Finished Goods $2,000 $4,000 1. What is the cost of materials requisitioned into production during April? 2. What are the current costs of manufacturing for April?
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 3. What is the cost of goods manufactured for April? 4. What is the cost of goods sold for April? Rule of thumbs: Æ Beg + Purchases – End = Materials requisitioned into production Æ BWIP + Current Manufacturing Costs – EWIP = COGM Æ BFG + COGM – EFG = COGS Answers: 1. $9,000 2. $29,000 3. $27,000 4. $25,000...
View Full Document

This homework help was uploaded on 04/09/2008 for the course ACG 2071 taught by Professor Sumbiznatch during the Summer '06 term at University of Florida.

Ask a homework question - tutors are online