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    Wayne's Company: What is the amount of cost of goods manufac

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    Wayne Company's beginning and ending inventories for the month of June were as follows:

    June 1 June 30
    Direct Materials $67,200 $62,400
    Work in Process $144,900 $171,100
    Finished Goods $84,500 $78,100

    Production data for the month follow:

    Direct labor cost incurred $200,400
    Direct labor-hours 24,900
    Actual manufacturing overhead cost incurred $131,600
    Direct materials purchases $165,200

    Wayne applies manufacturing overhead cost to jobs based on direct labor-hours, and the predetermined rate is $6 per direct labor-hour. The company does not close underapplied or overapplied manufacturing overhead to Cost of Goods Sold until the end of the year. What is the amount of cost of goods manufactured?

    $493,600
    $491,100
    $496,600
    $500,100

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    Solution Preview

    Wayne Company's beginning and ending inventories for the month of June were as follows:
    June 1 June 30
    Direct Materials $67,200 $62,400
    Work in Process $144,900 $171,100
    Finished Goods $84,500 $78,100

    Work in Process, June 1 144,900
    Direct Materials
    Direct Materials, June 1 67,200
    Add: ...

    Solution Summary

    This solution is comprised of a detailed explanation to answer what is the amount of cost of goods manufactured.

    $2.19

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