Answer:
cost of goods manufactured= $323,000
Explanation:
Giving the following information:
Conversion costs 221,000
Direct materials used 85,000
Beginning work in process 98,000
Ending work in process 81,000
To calculate the cost of goods manufactured, we need to use the following formula:
cost of goods manufactured= beginning WIP + direct materials used + direct labor + allocated manufacturing overhead - Ending WIP
Conversion costs= direct labor + allocated overhead
cost of goods manufactured= 98,000 + 85,000 + 221,000 - 81,000
cost of goods manufactured= $323,000
