Consider derek's budget information: materials to be used totals $62,100; direct labor totals $198,200; factory overhead totals $403,100; work in process inventory january 1 is $187,500; and work in progress inventory on december 31 is $195,000. the budgeted cost of goods manufactured for the year is

Cost of goods manufactured  655,900

Explanation:

First, we add the three cost component:

materials used in production                 62,100

direct labor                                            198,200

overhead                                               403,100

total cost added during the period    663,400

Then, using the WIP beginning and ending figures, we solve for cost of goods manufactured

WIP         january 1st                 187,500

cost added                              663,400

WP endind                             (195,000)  

Cost of goods manufactured  655,900

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explanation:

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.