Question - Direct Materials Used, Cost of Goods Manufactured In March, Chilton Company purchased materials costing $25,000 and incurred direct labor cost of $10,000. Overhead totaled $42,000 for the month. Information on inventories was as follows: Required:
March 1st Materials: $14,000, Work in Progress $8,000, Finished Goods, $9,000
March 31st Materials: $6,500,Work in Progress $4,000, Finished Goods $7,000
1. What was the cost of direct materials used in March?
2. What was the total manufacturing cost in March?
3. What was the cost of goods manufactured for March?