Consider the following information: direct materials used totaled $134,600; direct labor amounted to $396,800; overhead was computed to be $789,600; Work in Process Inventory on January 1, 2010, was $378,200; and Work in Process Inventory on December 31, 2010, was $385,200. What was the cost of goods manufactured?
A) $1,314,000
B) $1,321,000
C) $1,328,000
D) $2,084,400

Question

Quizplus · Accepted Answer

Cost of goods manufactured = Direct materials used + Direct labor + Overhead + Beginning work in process inventory - Ending work in process inventory= $134,600 + $396,800 + $789,600 + $378,200 - $385,200= $1,314,000

Consider the Following Information: Direct Materials Used Totaled $134,600; Direct