question archive Foxburg Company has the following information: Wip finished goods materials begining inventory 300 400 500 ending inventory 700 900 1500 purchase of materials 7,700 cost of goods sold 15,600 manufacturing overheads 4,300 What was the direct labor for the period? A)$5,800
Foxburg Company has the following information: Wip finished goods materials begining inventory 300 400 500 ending inventory 700 900 1500 purchase of materials 7,700 cost of goods sold 15,600 manufacturing overheads 4,300 What was the direct labor for the period? A)$5,800
Subject:AccountingPrice:3.87 Bought7
Foxburg Company has the following information:
Wip finished goods materials
| begining inventory | 300 | 400 | 500 |
| ending inventory | 700 | 900 | 1500 |
| purchase of materials | 7,700 | ||
| cost of goods sold | 15,600 | ||
| manufacturing overheads | 4,300 | ||
What was the direct labor for the period?
A)$5,800.
B)$6,300.
C)$6,800.
D)$5,500.
What was the Cost of Goods Manufactured r for the period?
A)$15,600.
B)$12,500.
C)$16,100.
D)$15,800.
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Answer:
1)cost of goods manufactured =Cost of goods sold +ending FG -Beginning FG
= 15600+900-400
= $ 16100
Correct option is "C"
2)Total maufacturing cost =Ending WIP+cost of goods manufactured-beginningWIP
= 700+16100-300
= $ 16500
Cost of material used =beginning RM+purchase-ending RM
= 500+7700-1500
= 6700
Direct labor =total manufacturing cost-direct material used- overhead
= 16500-6700-4300
= 5500
correct option is"D"
