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The following information is available for Fuller Manufacturing Company for the month ending October 31:__________.
Cost of direct materials used in production $1,323,600
Direct labor 1,680,000
Work in process inventory, October 1 455,300
Work in process inventory, October 31 378,100
Total factory overhead 3,544,200
Determine Fuller Manufacturing's cost of goods manufactured for the month ended October 31.

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Answer:

Fuller Manufacturing's cost of goods manufactured for the month ended October 31 is $6,625,000.

Explanation:

Prepare a Cost of Goods Manufactured Schedule as follows :

Direct Materials                                             $1,323,600

Direct labor                                                    $1,680,000

Total factory overhead                                 $3,544,200

Add Opening Work in process inventory      $455,300

Less Closing Work in process inventory       ($378,100)

Cost of Goods Manufactured                     $6,625,000

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