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Calculate the cost of goods manufactured using the following information: Direct materials used $ 298,800 Direct labor used 132,300 Factory overhead costs 264,300 General and administrative expenses 85,800 Selling expenses 49,100 Work in Process inventory, January 1 118,800 Work in Process inventory, December 31 126,200 Finished goods inventory, January 1 232,400 Finished goods inventory, December 31 239,000

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Answer:

$687,100

Explanation:

Cost of Goods Manufactured = Raw Materials Used + Direct Labor + Factory Overhead +Beginning Work in Process - Ending Work in ProcessCost of Goods Manufactured = $298,500 + $132,000 + $264,000 + $118,500 - $125,900 =$687,100

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