Fireox Company's selected cost data for 2015 are shown below: $$\begin{array} { | l | r | }
\hline \text { Cost of Goods Manufactured } & \$ 145,200 \
\hline \text { Work-in-Process Inventory, Jan. 1, 2015 } & 18,500 \
\hline \text { Work-in-Process Inventory, Dec. } 31,2015 & 22,500 \
\hline \text { Direct Materials Used } & 15,800 \
\hline
\end{array}$$ What is the total of manufacturing costs incurred by Fireox Company in 2015?

Question

Fireox Company's selected cost data for 2015 are shown below: $$\begin{array} { | l | r | } 
\hline \text { Cost of Goods Manufactured } & \$ 145,200 \
\hline \text { Work-in-Process Inventory, Jan. 1, 2015 } & 18,500 \
\hline \text { Work-in-Process Inventory, Dec. } 31,2015 & 22,500 \
\hline \text { Direct Materials Used } & 15,800 \
\hline
\end{array}$$ What is the total of manufacturing costs incurred by Fireox Company in 2015?

Quizplus · Accepted Answer

Cost of Goods Manufactured = Direct Materials Used + Manufacturing Overhead + Direct LaborManufacturing Overhead = Cost of Goods Manufactured - Direct Materials Used - Direct LaborDirect Labor = Cost of Goods Manufactured - Direct Materials Used - Manufacturing OverheadWe do not have information about Direct Labor, so we cannot calculate the total manufacturing costs incurred.

Fireox Company's Selected Cost Data for 2015 Are Shown Below