Problem
The Boyceville Machining Company provided you with the following information for the fiscal year ending on December 31:
Work-in-process inventory, 12/31 $28,950
Finished goods inventory, 1/1 153,700
Direct labor costs incurred 502,150
Manufacturing overhead costs 1,364,700
Direct materials inventory, 1/1 125,400
Finished goods inventory, 12/31 255,500
Direct materials purchased 875,100
Work-in-process inventory, 1/1 50,500
Direct materials inventory, 12/31 84,700
(a) Compute the total manufacturing costs incurred during the year.?
(b) Compute the total work-in-process during the year.?
(c) Compute the cost of goods manufactured during the year.?
(d) Compute the cost of goods sold during the year.