Juniper Company has provided the following data concerning its manufacturing costs and work in process inventories last month:

Raw materials used in production $ 270,000
Direct labor 140,000
Manufacturing overhead 190,000
Beginning work in process inventory 50,000
Ending work in process inventory 80,000

The cost of goods manufactured for the month was $___.

cost of goods manufactured= $570,000

Explanation:

Giving the following information:

Raw materials used in production $ 270,000

Direct labor 140,000

Manufacturing overhead 190,000

Beginning work in process inventory 50,000

Ending work in process inventory 80,000

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

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 50,000 + 270,000 + 140,000 + 190,000 - 80,000= $570,000

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