Juicy Manufacturing Corporation incurred the following costs.
|
Beginning direct materials inventory |
$24,000 |
|
Beginning work-in-process inventory |
$10,500 |
|
Beginning finished goods inventory |
$28,500 |
|
Ending direct materials inventory |
$24,000 |
|
Ending work in process |
$21,000 |
|
Ending finished goods |
$39,000 |
|
Factory supervisor’s salary |
$42,000 |
|
Depreciation on plant |
$18,000 |
|
Sales |
$1,200,000 |
|
Selling and administrative expenses |
$187,500 |
|
Plant maintenance |
$9,000 |
|
Plant utilities |
$16,500 |
|
Direct material purchases |
$322,500 |
|
Direct labor |
$360,000 |
Required: Calculate the following.
a. Direct materials used
b. Cost of goods manufactured
c. Cost of goods sold
d. Operating income