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Buffin Manufacturing Company reported the following year-end information: Beginning work in process inventory $1,420,000 Ending work in process inventory 1,200,000 Direct Materials 1,010,000 Direct labor 1,300,000 Manufacturing overhead 960,000 Buffin Manufacturing Company's cost of goods manufactured for the year is
Buffin Manufacturing Company reported the following year-end information:
Beginning work in process inventory $1,420,000
Ending work in process inventory 1,200,000
Direct Materials 1,010,000
Direct labor 1,300,000
Manufacturing overhead 960,000
Buffin Manufacturing Company's cost of goods manufactured for the year is
Expert Solution
Computation of Cost of Goods Manufactured:
Cost of Goods Manufactured = Direct Material + Direct Labor + Manufacturing Overhead + Beginning Work In Progress - Ending Work In Progress
= $1,010,000 + $1,300,000 + $960,000 + $1,420,000 - $1,200,000
Cost of Goods Manufactured = $3,490,000
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