question archive Ralph's Cafe has the following information for June: Cost of materials placed in production $45,000 Direct labor 20,000 Factory overhead 14,000 Work in process inventory, June 1 2,900 Work in process inventory, June 30 3,500 What is the cost of goods manufactured? a
Ralph's Cafe has the following information for June: Cost of materials placed in production $45,000 Direct labor 20,000 Factory overhead 14,000 Work in process inventory, June 1 2,900 Work in process inventory, June 30 3,500 What is the cost of goods manufactured? a
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Ralph's Cafe has the following information for June:
| Cost of materials placed in production | $45,000 |
| Direct labor | 20,000 |
| Factory overhead | 14,000 |
| Work in process inventory, June 1 | 2,900 |
| Work in process inventory, June 30 | 3,500 |
What is the cost of goods manufactured?
a.$79,000
b.$78,400
c.$81,900
d.$75,500
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Answer: b.$78,400
Explanation
| Cost of Goods Manufactured | |
| $ | |
| Cost of materials placed in production | 45,000.00 |
| Direct Labor | 20,000.00 |
| Factory overhead | 14,000.00 |
| Total Manufacturing Cost | 79,000.00 |
| Add: Work in process inventory, June 1 | 2,900.00 |
| Less: Work in process inventory, June 30 | (3,500.00) |
| Cost of Goods Manufactured | 78,400.00 |
