Using the information below for Laurels Company; determine the cost of goods manufactured during the current year: $$\begin{array} { l | r }
\text { Direct materials used } & \$ 5 , 0 0 0 \
\hline \text { Direct Labor } & 7,000 \
\hline \text { Total Factory overhead } & 5,100 \
\hline \text { Beginning work in process } & 3,000 \
\hline \text { Ending work in process } & 4,000
\end{array}$$
A) $17,100.
B) $16,100.
C) $13,600.
D) $12,000.
E) $18,100.

Question

Using the information below for Laurels Company; determine the cost of goods manufactured during the current year: $$\begin{array} { l | r } 
\text { Direct materials used } & \$ 5 , 0 0 0 \
\hline \text { Direct Labor } & 7,000 \
\hline \text { Total Factory overhead } & 5,100 \
\hline \text { Beginning work in process } & 3,000 \
\hline \text { Ending work in process } & 4,000
\end{array}$$
A) $17,100.
B) $16,100.
C) $13,600.
D) $12,000.
E) $18,100.

Quizplus · Accepted Answer

The cost of goods manufactured is calculated as: Direct materials used ($5,000) + Direct labor ($7,000) + Total factory overhead ($5,100) + Beginning work in process ($3,000) - Ending work in process ($4,000) = $16,100.

Using the Information Below for Laurels Company; Determine the Cost