If beginning and ending goods in process inventories are $5,000 and $15,000, respectively, and cost of goods manufactured is $170,000, what is the total manufacturing cost for the period?
A) $180,000.
B) $155,000.
C) $160,000.
D) $175,000.
E) $165,000.

Question

Quizplus · Accepted Answer

The total manufacturing cost for the period can be calculated using the formula: Total Manufacturing Cost = Cost of Goods Manufactured + Beginning Goods in Process Inventory - Ending Goods in Process Inventory. Plugging in the given values: $170,000 + $5,000 - $15,000 = $160,000. However, to find the total manufacturing cost, we actually need to add the ending inventory and subtract the beginning inventory from the cost of goods manufactured, which correctly calculates to $170,000 + $15,000 - $5,000 = $180,000.

If Beginning and Ending Goods in Process Inventories Are $5,000