McGown Corp.has the following information: Additional information for the year is as follows:
Compute the cost of goods manufactured.

Question

McGown Corp.has the following information:  Additional information for the year is as follows:
 Compute the cost of goods manufactured.

Quizplus · Accepted Answer

Using the information provided, we can calculate the cost of goods manufactured using the following formula:
Beginning Work in Process Inventory + Total Manufacturing Costs - Ending Work in Process Inventory = Cost of Goods Manufactured
Plugging in the numbers:
$20,000 + ($140,000 + $65,000 + $15,000 + $5,000) - $3,000 = $242,000
Therefore, the answer is B.