Given the following data for harder company, compute cost of goods manufactured:
direct materials used $120,000
beginning work in process $20,000
direct labor $200,000
ending work in process $10,000
manufacturing overhead $180,000
beginning finished goods $25,000
operating expenses $175,000
ending finished goods $15,000
(a) $460,000
(b) $470,000
(c) $480,000
(d) $490,000

Cost of goods manufactured = $520000

Explanation:

Given that,

Direct materials used = $120,000

Beginning work in process = $20,000

Direct labor = $200,000

Ending work in process = $10,000

Manufacturing overhead = $180,000

Beginning finished goods = $25,000

Operating expenses = $175,000

Ending finished goods = $15,000

∴ Cost of goods manufactured = Direct materials used + Beginning work in process + Direct labor - Ending work in process + Manufacturing overhead + Beginning finished goods -  Ending finished goods

= $120,000 + $20,000 + $200,000 - $10,000 + $180,000 + $25,000 - $15,000

= $520000

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