Answer:
cost of goods manufactured= $278,000
Explanation:
Giving the following information:
Direct materials: $40,000
Direct labor: $100,000
Manufacturing overhead applied: $120,000
Beginning Work in process inventory: $30,000
Ending Work in process inventory: $12,000
To calculate the total manufacturing costs, we need to use the following formula:
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
cost of goods manufactured= 30,000 + 40,000 + 100,000 + 120,000 - 12,000
cost of goods manufactured= $278,000
