Given the following information:
The following balances are from the accounts of Hill Components:
January 1 (Beginning) December 31 (Ending)
Direct materials inventory $ 21,700 $ 25,300
Work-in-process inventory 32,400 29,000
Finished goods inventory 5,900 6,800
Direct materials used during the year amount to $46,100, and the cost of goods sold for the year was $52,800.
How do you compute total manufacturing costs?
The solution computes the total manufacturing costs for Hill Components.