Jordan Company The following information has been taken from the cost records of Jordan Company for the past year:
Refer to Jordan Company. Cost of Goods Manufactured was

Question

Jordan Company The following information has been taken from the cost records of Jordan Company for the past year:
  Refer to Jordan Company. Cost of Goods Manufactured was

Quizplus · Accepted Answer

The cost of goods manufactured can be calculated using the following formula: Beginning inventory of work in process + Total manufacturing costs - Ending inventory of work in process. 
Based on the information provided in the cost records, we can calculate the cost of goods manufactured as follows: 
Beginning inventory of work in process = $72 
Total manufacturing costs = Direct materials used + Direct labor + Manufacturing overhead = $292 + $216 + $236 = $744 
Ending inventory of work in process = $80 
Therefore, cost of goods manufactured = $72 + $744 - $80 = $736.

Jordan Company the Following Information Has Been Taken from the Cost