Sienna company has the following information for january. cost of direct materials used in production $20,000 direct labor 15,000 factory overhead 24,000 work in process inventory, january 1 2,900 work in process inventory, january 31 3,500 calculate the cost of goods manufactured.

The cost of goods manufactured is $58400.

Explanation:

total manufaturing costs = Cost of direct materials used in production  + Direct labor + Factory overhead

                                         = $20,000 + $15,000 + $24,000

                                         = $59000

cost of goods manufactured = Work in process inventory, January 1 + total manufacturing costs -Work in process inventory, January 31

= $2,900 + $59000 - $3,500

= $58400.

Therefore, the cost of goods manufactured is $58400.

answer; i believe that the correct answer is ( owners investment)

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