The cost of goods manufactured for March was:

Question

Quizplus · Accepted Answer

The cost of goods manufactured is calculated as follows:
Beginning Work-in-Process Inventory + Total Manufacturing Costs during Period - Ending Work-in-Process Inventory = Cost of Goods Manufactured
Using the information given in the problem, we have:
Beginning Work-in-Process Inventory = $0
Direct Materials Used = $50,000
Direct Labor = $12,800
Manufacturing Overhead = $22,500
Total Manufacturing Costs = $85,300
Ending Work-in-Process Inventory = $18,000
Thus:
$0 + $85,300 - $18,000 = $67,300
Therefore, choice C is correct.

The Cost of Goods Manufactured for March Was