Raynor Company has the following data:

Direct labor 76,000
Direct materials used 84,000
Total manufacturing overhead 60,000
Ending work in process 45,000
Beginning work in process 30,000
Calculate the cost of goods manufactured.

The cost of goods manufactured.                    $ 205,000  

Explanation:

Raynor Company

The Cost of Goods Manufactured Statement

                                                                            $

Direct labor                                                         76,000

Direct materials used                                        84,000

Total manufacturing overhead                         60,000

Total Manufacturing Costs                              $ 220,000

Add Beginning work in process                         30,000

Less Ending work in process                             45,000

The cost of goods manufactured.                    $ 205,000  

The cost of goods manufactured gives an estimate of the costs incurred in a given period . It includes total manufacturing costs and beginning work in process . The ending work in process is deducted from it .

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