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Ragtime Company had the following information for the year:

Direct materials used $117,700
Direct labor incurred (5,100 hours) $153,800
Actual manufacturing overhead incurred $174,200
Ragtime Company used a predetermined overhead rate of $36 per direct labor hour for the year. Assume the only inventory balance is an ending Work in Process Inventory balance of $17,900. What was cost of goods manufactured?

a. $437,200
b. $445,700
c. $271,500
d. $455,600

Respuesta :

The cost of goods manufactured is a. $437,200

Calculation of cost of goods manufactured;

Applied manufacturing overhead = $36 × 5,100 = $183,600.

Now

Cost of goods manufactured

=Direct materials used+Direct labor incurred+Applied manufacturing overhead+begining WIP-Ending WIP

=$117,700 + $153,800 +$183,600 + $0 - $17,900

= $437,200.

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