You have the following information about the activities of ABC Inc. for 2016 Sales 500,000 Factory maintenance 24,000 Indirect labour 19,000 Direct Material purchases 98,000 Factory utilities 17,000 Ending Direct materials 16,000 General and Administrative expense 71,200 Beginning work-in-process inventory 26,000 Beginning finished goods inventory 63,000 Ending work-in-process inventory 34,000 Ending finished goods inventory 44,600 Beginning direct material inventory 13,000 Selling Expenses 67,600 Direct labour 83,000 Factory insurance 9,000 Indirect Materials 7,600 Amortization-Factory 30,000 Required: 1. What was the ending direct material inventory? 2. What was the total manufacturing cost? 3. What was the cost of goods manufactured?
You have the following information about the activities of ABC Inc. for 2016 Sales 500,000 Factory maintenance 24,000 Indirect labour 19,000 Direct Material purchases 98,000 Factory utilities 17,000 Ending Direct materials 16,000 General and Administrative expense 71,200 Beginning work-in-process inventory 26,000 Beginning finished goods inventory 63,000 Ending work-in-process inventory 34,000 Ending finished goods inventory 44,600 Beginning direct material inventory 13,000 Selling Expenses 67,600 Direct labour 83,000 Factory insurance 9,000 Indirect Materials 7,600 Amortization-Factory 30,000
Required:
1. What was the ending direct material inventory?
2. What was the total
3. What was the cost of goods manufactured?
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