Solution-Compute cost of direct material used

Compute cost of direct material used

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Reference no: EM133139582

Question - A company's cost of goods sold for the month of December 31, 2015 represented $ 345,000. Purchases of direct materials during December amounted to $ 110,000. Ending Work-in-process inventory was 90% of Beginning Work-in-process inventory. Manufacturing overhead was 50% of direct labor cost. The inventories were as follows:

	Inventories
	December 31, 2019	December 31, 2018
Direct Materials	$26,000	$20,000
Work-in-process	?	40,000
Finished Goods	105,000	102,000

Required - Compute: a. Cost of direct material used b. Cost of goods manufactured c. Total manufacturing costs incurred to date d. Direct labor cost e. Cost of goods sold.

Reference no: EM133139582

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Compute cost of direct material used

Reference no: EM133139582

Reference no: EM133139582

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