Calculate the direct material used during the year

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Reference no: EM132115483

Problem - The following information for the jimmy dean T-Shirt Company, as of December 31, 20XX, is provided.

Administrative salaries $24,000

Depreciation - factory equipment 18,750

Depreciation - delivery vehicles 6,000

Direct labor 51,000

Factory supplies used 9,000

Finished goods inventory on January 1 42,750

Finished goods inventory on December 31 52,000

Factory insurance 11,625

Factory maintenance 5,625

Factory utilities 10,500

Interest expense 10,000

Raw material inventory on January 1 7,000

Raw material inventory on December 31 3,500

Raw material purchases for the year 94,000

Rent on factory equipment 18,750

Repairs on factory equipment 8,600

Sales commissions 28,150

Goods in process inventory on January 1 4,000

Goods in process inventory on December 31 2,500

Required -

Calculate the direct material used during the year.

Calculate the total manufacturing costs incurred during the year.

Calculate the Cost of Goods Manufactured during the year.

Calculate the Cost of Goods Sold during the year.

Reference no: EM132115483

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