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Using the information below for Laurels Company; determine the cost of goods manufactured during the current year:

Direct materials used $ 5,400
Direct Labor 7,400
Total Factory overhead 5,500
Beginning work in process 3,400
Ending work in process 4,800

(A) $12,800.
(B) $14,800.
(C) $16,900.
(D) $19,700.
(E) $18,300.

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Answer:

The correct answer is C.

Explanation:

Giving the following information:

Direct materials used $ 5,400

Direct Labor 7,400

Total Factory overhead 5,500

Beginning work in process 3,400

Ending work in process 4,800

To calculate the cost of goods manufactured 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= 3,400 + 5,400 + 7,400 + 5,500 - 4,800

cost of goods manufactured= $16,900

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