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The following table summarizes the beginning and ending inventories of Decatur Manufacturing Inc. for...

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Accounting

The following table summarizes the beginning and ending inventories of Decatur Manufacturing Inc. for the month of October:

Sept.30

Oct.31

Raw materials

$

33,500

$

27,600

Work in process

71,300

64,800

Finished goods

47,200

41,900

Raw materials purchased during the month of October totaled $123,900. Direct labor costs incurred totaled $312,200 for the month. Actual and applied manufacturing overhead costs for October totaled $188,400 and $192,300, respectively. Over/Underapplied overhead is written off to cost of goods sold at the end of the year in December. Required:

  • Calculate the cost of goods manufactured for October.
  • Calculate the cost of goods sold for October.

a.

Cost of goods manufactured

b.

Cost of goods sold

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