A company has provided the following cost data for its most recent accounting period: Direct labor $98000 Administrative expenses $15,000 Manufacturing overhead $25,000 Direct materials $200,000 Selling expense $22,000 What was the cost of goods manufactured for the period? Assume there were no beginning or ending inventories. $303,000 $323,000 $338,000 $360,000 Solution +) Beginning Balance of Inventory = 0 (+) Direct Materials =200000 (+) Direct Labor = 98000 (+) Manufacturing Overhead = 25000 (–) Ending Balance of Inventory = 0 (=) Cost of Goods Manufactured =323000 .

1. A company has provided the following cost data for its most recent accounting period: Direct
labor $98000 Administrative expenses $15,000 Manufacturing overhead $25,000 Direct
materials $200,000 Selling expense $22,000 What was the cost of goods manufactured for the
period? Assume there were no beginning or ending inventories. $303,000 $323,000 $338,000
$360,000
Solution
+) Beginning Balance of Inventory = 0
(+) Direct Materials =200000
(+) Direct Labor = 98000
(+) Manufacturing Overhead = 25000
(–) Ending Balance of Inventory = 0
(=) Cost of Goods Manufactured =323000
+) Beginning Balance of Inventory = 0
(+) Direct Materials =200000
(+) Direct Labor = 98000
(+) Manufacturing Overhead = 25000
(–) Ending Balance of Inventory = 0
(=) Cost of Goods Manufactured =323000