Answer:
cost of goods manufactured= $890,000
Explanation:
Giving the following information:
beginning work in process inventory is $60,000
direct materials cost is $350,000
direct labor cost is $216,000
overhead cost is $319,000
the ending work in process inventory is $55,000
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= 60,000 + 350,000 + 216,000 + 319,000 - 55,000
cost of goods manufactured= $890,000
