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Consider Derek's budget information: materials to be used totals $64,300; direct labor totals $198,400; factory overhead totals $402,900; work in process inventory January 1 is $187,800; and work in progress inventory on December 31 is $194,100. The budgeted cost of goods manufactured for the year is

Respuesta :

Answer:

$659300

Explanation:

Given: Total material used= $64300.

           Direct labor= $198400.

           Factory overhead= $402900.

           Beginning work in progress= $187800.

           Ending work in progress inventory= $194100.

Now, calculating the budgeted cost of goods manufactured.

Budgeted cost of goods manufactured= [tex](Total\ manufacturing\ cost+ beginning\ work\ in\ progress\ inventory)- ending\ WIP\ inventory[/tex]⇒ Budgeted cost of goods manufactured=  [tex](\$ 64300+\$ 198400+\$ 402900+\$ 187800)- \$ 194100[/tex]

⇒ Budgeted cost of goods manufactured=  [tex]\$ 853400 -\$ 194100[/tex]

∴ Budgeted cost of goods manufactured= [tex]\$ 659300[/tex]

Hence, the budgeted cost of goods manufactured for the year is $659300.

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