Abc company has the following information at the end of the current year: direct materials used $25,000 beginning work-in-process inventory 2,000 ending work-in-process inventory 5,000 direct labor 10,000 manufacturing overhead 7,000 what is the cost of goods manufactured?

The correct answer to the following question is $39,000 .

Explanation:

The given information -

Direct material - $25,000

Beginning work in progress - $2000

Ending work in progress - $5000

Direct labor - $10,000

Manufacturing overhead - $7000

So to calculate the cost of goods manufactured =

Direct material + Beginning work in progress + Direct labor + Manufacturing Overhead - Ending work in progress

= $25,000 + $2000 + $10,000 + $7000 - $5000

= $39,000

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