Professional Documents
Culture Documents
25
1.
Direct materials inventory 3/1/2020 $ 90
Direct materials purchased 345 4.
Direct materials available for production 435 Work-in-process inventory 3/1/2020 $ 215
Direct materials used (365) Total manufacturing costs incurred during March 2020 1,570
Direct materials inventory 3/31/2020 $ 70 Work-in-process available for production 1,785
Subtract: Cost of goods manufactured (moved into finished goods) (1,640)
Work-in-process inventory 3/31/2020 $ 145
2.
Total manufacturing overhead costs $ 485 5.
Subtract: Variable manufacturing overhead costs (270) Finished goods inventory 3/1/2020 $ 160
Fixed manufacturing overhead costs for March 2020 $ 215 Cost of goods manufactured (moved from work in process) 1,640
Cost of finished goods available for sale in March 2020 $ 1,800
3.
6.
Total manufacturing costs incurred during March 2020 $ 1,570 Cost of finished goods available for sale in March 2020
Subtract: Direct materials used (from requirement 1) (365) (from requirement 5) $ 1,800
Total manufacturing overhead costs (485) Subtract: Cost of goods sold (1,740)
Direct manufacturing labor costs for March 2020 $ 720 Finished goods inventory 3/31/2020 $ 60