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Work in process inventory on December 31 of the current year is $44,000. Work in process inventory increased by 60% during the year. Cost of goods manufactured amounts to $275,000. What are the total manufacturing costs incurred in the current year? Please show your work.

a) $291,500
b) $302,000
c) $275,750
d) $233,750

Respuesta :

hyderali230

Answer:

b) $302,000

Explanation:

Cost of goods manufactured = Total Manufacturing Cost + (Change in working process inventory)

Cost of goods manufactured = Total Manufacturing Cost + (Opening working process inventory - Closing  working process inventory)

$275,000 = Total Manufacturing Cost  - $26,400

$275,000 + $26,400 = Total Manufacturing Cost

Total Manufacturing Cost = $301,400

Nearest possible answer is 302,000

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