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Determine the cost of goods manufactured

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Reference no: EM132000500

Question - Presented below is selected information from the Kudlick Company's current period accounting records (in $000s):

Sales $25,000

Raw materials used 5,500

Direct Labor Costs 2,000

Period Costs 5000

Beginning raw materials inventory 600

Ending raw materials inventory 2000

Net income 600

Beginning work in progress inventory 0

Ending work in progress inventory 600

Beginning finished goods inventory 1400

Ending finished goods inventory 800

Note: All raw materials used were direct materials.

Required: Determine the following in dollars

a. Raw materials

b. Gross profit

c. Cost of goods manufactured

d. Manufacturing overhead

Reference no: EM132000500

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