Ogleby Manufacturing Inc.'s accounting records reflect the following inventories: During 2010, Ogleby purchased $940,000 of raw materials, incurred direct labor costs of $150,000, and incurred manufacturing overhead totaling $192,000.
How much would Ogleby Manufacturing report as cost of goods manufactured for 2010?

Question

Ogleby Manufacturing Inc.'s accounting records reflect the following inventories:  During 2010, Ogleby purchased $940,000 of raw materials, incurred direct labor costs of $150,000, and incurred manufacturing overhead totaling $192,000.
How much would Ogleby Manufacturing report as cost of goods manufactured for 2010?

Quizplus · Accepted Answer

The Answer of Ogleby Manufacturing Inc.'s accounting records reflect the following inventories:  During 2010, Ogleby purchased $940,000 of raw materials, incurred direct labor costs of $150,000, and incurred manufacturing overhead totaling $192,000.
How much would Ogleby Manufacturing report as cost of goods manufactured for 2010?