Information for Maxim Manufacturing Is Presented Below

Essay

Information for Maxim Manufacturing is presented below. Compute both the cost of goods manufactured and the cost of goods sold for Maxim Manufacturing.

$\begin{array}{|l|r|}\hline\text { Beginning raw materials inventor } & \$ 36,800 \\\hline \text { Beginning work in process inventory } & 21,200 \\\hline \text { Direct labor } & 81,000 \\\hline \text { Beginning finished goods inventory } & 64,000 \\\hline \text { Total factory overhead } & 126,000 \\\hline \text { Raw materials purchased } & 21,500 \\\hline \text { Ending raw materials inventory } & 40,000 \\\hline \text { Ending work in process inventory } & 20,000 \\\hline \text { Ending finished goods inventory } & 46,000\\\hline\end{array}$