The following information is for MTC Harry Company:
Beginning raw materials inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 30,000
Raw materials used in production as direct materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 95,000
Ending raw materials inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55,000
Manufacturing overhead (actual) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 250,000
Beginning work-in-process inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 130,000
Ending work-in-process inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 145,000
Direct labor costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100,000
Beginning finished goods inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65,000
Ending finished goods inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80,000
Under-applied manufacturing overhead . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25,000
1. Compute total manufacturing costs.
2. Compute cost of goods manufactured.
3. Compute cost of goods sold.
The following information is for MTC Harry Company Beginning ra

total manufacturing costs= Raw materials used in production as direct materials + Direct labor costs + (Manufacturing overhead (actual) - Under-applied manufacturing overhead)

total manufacturing costs= 95,000 + 100,000 + (250,000 - 25,000)

total manufacturing costs= $420,000

Now, the cost of goods manufactured:

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 130,000 + 420,000 - 145,000

cost of goods manufactured= $405,000

Finally, the cost of goods sold:

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

COGS= 65,000 + 405,000 - 80,000

COGS= $390,000