Glenville Company has the following information for April: Cost of direct materials used in production $50,000 Direct labor 56,000 Factory overhead 35,000 Work in process inventory, April 1 39,000 Work in process inventory, April 30 34,000 Finished goods inventory, April 1 25,000 Finished goods inventory, April 30 17,000 a. For April, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured.

Answer and Explanation:

The preparation of Cost of Goods Manufactured is shown below:

                               Glenville Company

             Statement of Cost of Goods Manufactured

Work in progress inventory April, 1                                  $39,000

Cost of direct materials used in production $50,000

Direct labor                                                     $56,000

Factory overhead                                           $35,000

Total manufacturing cost incurred in April                       $141,000

Total manufacturing cost                                                   $180,000

Work in progress inventory April, 30                                $34,000

Cost of goods manufactured                                           $146,000

($180,000 - $34,000)

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