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Cost of Goods Manufactured for a Manufacturing Company
The following information is available for Ethtridge Manufacturing Company for the month ending July 31:
| Cost of direct materials used in production | $1,150,000 |
| Direct labor | 966,000 |
| Work in process inventory, July 1 | 316,400 |
| Work in process inventory, July 31 | 355,500 |
| Total factory overhead | 490,500 |
Determine Ethtridge's cost of goods manufactured for the month ended July 31.
| Ethtridge Manufacturing Company |
| Statement of Cost of Goods Manufactured |
| For the Month Ended July 31 |
| | | $ |
| Add manufacturing costs incurred during July: | | |
| | $ | |
| | | |
| | | |
| Total manufacturing costs incurred | | |
| Total manufacturing costs | | $ |
| | | |
| Cost of goods manufactured | | $ |
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