A few days ago
Accounting Help?
Information for the Ace Manufacturing Company follows:
Beginning raw materials inventory: 53,200
Beginning goods in process, inventory: 78,400
Ending raw materials inventory: 58,100
Ending goods in process, inventory: 98,000
Direct Labor: 149,800
Total factory overhead: 105,000
Raw material purchases: 210,000
Calculate the cost of goods manufactured for this company.
Is this the right answer?
149,800 + 105,000 = 254,800
Top 1 Answers
A few days ago
Favorite Answer
No. assuming you mean “by” not “for”any process must include all inputs, including the raw materials actually used, which will be the purchases of 210,000 minus the increase you can see in raw materials inventory (ending-beginning).
See Psychologists can do accounting, but not vice versa
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