Reference no: EM132683781
The following were taken from the books of Marvin Company.
January 1 March 31
Raw Materials $ 268,000 $ 167,000
Work in Process - -
Finished Goods $ 43,000 ?
(100 units) (200 units)
Raw materials purchased $1,946,700
Direct Labor $2,125,800
Factory Overhead $ 764,000
Sales (12,400 units at $535)
The company uses the FIFO method for costing inventories.
Problem 1: Determine the following:
a. The number of units manufactured
b. The cost of goods manufactured per unit
c. The cost of goods sold
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