Rochford Corporation has provided the following data concerning last month's operations.?Purchases of raw materials$25,000?Indirect materials included in manufacturing overhead$5,000?Direct labor cost$58,000?Manufacturing overhead cost applied to Work in Process$73,000??BeginningEnding?Raw materials inventory$11,000$21,000?Work in process inventory$49,000$74,000Required:Determine the cost of goods manufactured for the month.
What will be an ideal response?
| ? | Direct materials: | ? | ? |
| ? | Beginning raw materials inventory | $11,000 | ? |
| ? | Add: Purchases of raw materials | 25,000 | ? |
| ? | Total raw materials available | 36,000 | ? |
| ? | Deduct: Ending raw materials inventory | 21,000 | ? |
| ? | Raw materials used in production | 15,000 | ? |
| ? | Deduct: Indirect materials included in manufacturing overhead | 5,000 | $10,000 |
| ? | Direct labor | ? | 58,000 |
| ? | Manufacturing overhead cost applied to work in process | ? | 73,000 |
| ? | Total manufacturing costs | ? | 141,000 |
| ? | Add: Beginning work in process inventory | ? | 49,000 |
| ? | ? | ? | 190,000 |
| ? | Deduct: Ending work in process inventory | ? | 74,000 |
| ? | Cost of goods manufactured | ? | $116,000 |
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