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Category > Management Posted 04 Apr 2018 My Price 8.00

Bisby Company

Problem 2-45  Cost of Direct Materials, Cost of Goods Manufactured, Cost of Goods Sold

Bisby Company manufactures fishing rods. At the beginning of July, the following information was supplied by its accountant:

 

 

Raw materials inventory

$40,000

Work-in-process inventory

21,000

Finished goods inventory

23,200

During July, the direct labor cost was $43,500, raw materials purchases were $64,000, and the total overhead cost was $108,750. The inventories at the end of July were:

Raw materials inventory                                               $19,800 Work-in-process inventory                                                               32,500 Finished goods inventory                                                                 22,100

 

Required:

1.       What is the cost of the direct materials used in production during July?

2.       What is the cost of goods manufactured for July?

3.       What is the cost of goods sold for July?

 

Answers

Maurice Tutor
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Status NEW Posted 04 Apr 2018 08:04 PM My Price 8.00

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