FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Direct Materials Used, Cost of Goods Manufactured
In September, Lauren Ashley Company purchased materials costing $200,000 and incurred direct
labor cost of $120,000. Overhead totaled $325,000 for the month. Information on inventories was
as follows:
Materials
Work in process
Finished goods
Required:
September 1 September 30
$120,000
80,000
70,000
$130,000
90,000
65,000
1. What was the cost of direct materials used in September?
2. What was the total manufacturing cost in September?
$
3. What was the cost of goods manufactured for September?
$
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Transcribed Image Text:Direct Materials Used, Cost of Goods Manufactured In September, Lauren Ashley Company purchased materials costing $200,000 and incurred direct labor cost of $120,000. Overhead totaled $325,000 for the month. Information on inventories was as follows: Materials Work in process Finished goods Required: September 1 September 30 $120,000 80,000 70,000 $130,000 90,000 65,000 1. What was the cost of direct materials used in September? 2. What was the total manufacturing cost in September? $ 3. What was the cost of goods manufactured for September? $
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