Presented below are incomplete manufacturing cost data. Determine the missing amounts for three different situations.

Direct Materials Used Direct Labor Used Factory Overhead Total Manufacturing Costs

(1) $41,900 $62,500 $52,900 $157300

(2) $80000 $76,000 $144,000 $300,000

(3) $57,400 $139600 $115,000 $312,000

Determine the missing amounts.

Total Manufacturing Costs Work in Process (January 1) Work in Process (December 31) Cost of Goods Manufactured

(1) $122,000 $84,300

(2) $300,000 $98,500 $324,500

(3) $312,000 $467,000 $719,000

Answer and Explanation:

The computation of missing amounts is shown below:-

1. Total Manufacturing Costs = Direct Materials Used + Direct Labor Used + Factory Overhead

= $41,900 + $62,500 + $52,900

= $157,300

2. Total Manufacturing Costs = Direct Materials Used + Direct Labor Used + Factory Overhead

$300,000 = Direct material used + $76,000 + $144,000

Direct material used = $300,000 - $220,000

= $80,000

3. Total Manufacturing Costs = Direct Materials Used + Direct Labor Used + Factory Overhead

$312,000 = $57,400 + Direct labor used + $115,000

Direct labor used = $172,400 - $312,000

= $139,600

B. 1. Cost of Goods Manufactured = Total Manufacturing Costs + Work in Process of January 1 - Work in Process of December 31

= $157,300 + $122,000 - $84,300

= $195,000

2. Cost of Goods Manufactured = Total Manufacturing Costs + Work in Process of January 1 - Work in Process of December 31

$324,500 = $300,000 + Work in Process (January 1) - $98,500

Work in Process (January 1) = $123,000

3. Cost of Goods Manufactured = Total Manufacturing Costs + Work in Process of January 1 - Work in Process of December 31

$719,000 = $312,000 + $467,000 - Work in Process of December 31

Work in Process of December 31 = $60,000

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