Question - Bryant Company incurred costs of $50,000 for direct materials (raw) purchased. Direct labor was $60,000 and factory overhead was $35,000 for May.
Inventories were as follows:
Raw materials beginning $14,000; raw materials ending $10,000
Work-in-process beginning $24,000; work-in-process ending $36,000
Finished goods beginning $10,000; finished goods ending $25,000
Required: Calculate the cost of goods manufactured for May for Bryant Company. You need to show your work.