Cost of Goods Sold, Cost of Goods Manufactured Glenville Company has the following information for April:

Cost of direct materials used in production $52,000
Direct labor 67,000
Factory overhead 21,000
Work in process inventory, April 1 38,000
Work in process inventory, April 30 48,000
Finished goods inventory, April 1 22,000
Finished goods inventory, April 30 17,000

Required:
a. For April, determine the cost of goods manufactured.
b. For April, determine the cost of goods sold.

cost of goods manufactured= $130,000

COGS= $135,000

Explanation:

To calculate the cost of goods manufactured, we need to use the following formula:

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 38,000 + 52,000 + 67,000 + 21,000 - 48,000

cost of goods manufactured= $130,000

Now, we can determine the cost of goods manufactured:

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 22,000 + 130,000 - 17,000

COGS= $135,000

a corporation is legally separate from its owner, and it pays its own taxes.

the most important factor in the

work process or industry is to retain the interest of the employee. and to

retain them, their salary or profit must be adjusted to the best value. unless

the employee does not do his job properly, employees must receive bonuses or

benefits to ensure them to stay in the company. it will actually make them stay

longer, make them feel important and reduce costs for hiring new employees.

explanation:

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