Miami Corp. obtained the following information from its accounting records:

Sales Beginning Finished Goods Inventory Ending Finished Goods Inventory Cost of Goods Sold
$19,000 $12,000 $ 8,000 $9,000

The Cost of Goods Manufactured this period equals:

A. $11,000

B. $ 5,000

C. $10,000

D. $6,000

cost of goods manufactured= $5,000

Explanation:

Giving the following information:

Beginning Finished Goods Inventory= 12,000

Ending Finished Goods Inventory= 8,000

Cost of Goods Sold= $9,000

To calculate the cost of goods manufactured, we need to use the following formula:

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

Isolating cost of goods manufactured

cost of goods manufactured= -beginning finished inventory + COGS + ending finished inventory

cost of goods manufactured= -12,000 + 9,000 + 8,000

cost of goods manufactured= $5,000

urban company reports the following information regarding its production cost: units produced 37,000 units direct labor $ 30 per unit direct materials $ 35 per unit variable overhead $ 237,000 in total fixed overhead $ 127,000 in total

answer; customers within the organization