Business, 26.10.2019 00:43 bray40

Jacques has been asked to calculate the cost of goods manufactured for sully enterprises for fiscal year 2015. he has accumulated the following values. beginning work in process inventory, $45,681 ending work in process inventory, $55,374 beginning raw materials inventory, $94,782 ending raw materials inventory, $85,377 raw materials purchased, $1,487,237 delivery vehicle purchased, $28,649 282,100 man-hours of factory labor at $21.50/hour 18,600 man-hours of factory oversight labor at $32.40/hour administrative salaries, $495,000 factory utilities, $22,300 factory depreciation, $12,400 factory repairs, $64,450 what value should jacques find for the cost of goods manufactured?
a : $8,253,889
b : $7,651,249
c : $8,282,538
d : $8,777,538

Answers: 1

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Answer from: claytonhopkins

A $8,253,889

Explanation:

Schedule of Cost of goods manufactured

for the fiscal year 2015

Direct Material $

Beginning Raw Material Inventory 94,782

Add:Purchases of Raw Material 1,487,237

Less: Ending Raw Material (85,377)

Direct Material Used in Production 1,496,642

Direct labour

Factory Labour

(282,100×21.5) 6,065,150

Oversight Labour

(18,600×32.4) 602,640

6,667,790

Add: Manufacturing Overhead

Factory Utilities 22,300

Factory Depreciation 12,400

Factory Repairs 64,450

99,150

Add:Beginning WIP 45,681

Less:Ending WIP (55,374)

Cost Of Goods Manufactured fpr the Year 8,253,889

Answer from: Quest

Renting provides greater flexibility but can lead to higher costs in the long term.answer: b) or the second option.

Answer from: Quest

b is the correct answer

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