Answer:
cost of manufactured goods: $ 685,375
Explanation:
Missing information attached:
we have to determinate the overhead rate:
expected overhead 270,000
expected labnor hours: 24,000
270,000 / 24,000 = $ 11.25 MO rate
then, we calculate the cost added during the month:
labor: 85,000
MO: 23,500 x 11.25 = 264,375
Raw materials:
solve using inventory identity:
[tex]$Beginning Inventory + Purchase = Ending Inventory + Used[/tex]
30,000 + 350,000 - 28,000 = 352,000
total cost added: 701,375
cost of manufactured goods:
[tex]$Beginning WIP + added = Ending WIP + COGM[/tex]
51,000 + 701,375 - 67,000 = 685,375
