Industries is calculating its cost of goods manufactured at year-end. lawrence's accounting records show the following: the raw materials inventory account had a beginning balance of $ 14 comma 000 and an ending balance of $ 17 comma 000. during the year, the company purchased $ 61 comma 000 of direct materials. direct labor for the year totaled $ 134 comma 000, while manufacturing overhead amounted to $ 155 comma 000. the work in process inventory account had a beginning balance of $ 21 comma 000 and an ending balance of $ 18 comma 000. assume that raw materials inventory contains only direct materials. compute the cost of goods manufactured for the year. (hint: the first step is to calculate the direct materials used during the year.)

Cost of good manufactured=  $350

Explanation:

To calculate the cost of manufactured goods we need to use the following formula:

Cost of good manufactured= Beginning work in progress+ direct materials of the period + direct labor + manufactured overhead - ending work in progress

Beginning work in progress= $21

Direct materials = beginning inventory + purchase - ending inventory= 14 + 61 - 17 = 58

Direct labor= 134

Manufactured overhead= 155

Ending work in progress= 18

Cost of good manufactured= 21 + 58 + 134 + 155 - 18= $350

the investment was $14,174.196

explanation:

a lump sum means that the father of the example made one deposit and leave it be.

we need to know the value of a capital that generated at 4.05% per year during 28 years the sum of $48,613.24

now clearing the formula to solve for capital we got:

and we reach the answer investment = $14,174.20

answer; experimentation;