Drake Company incurred costs of $77,000 for direct materials (raw) purchased.
Drake Company incurred costs of $77,000 for direct materials (raw) purchased. Direct labor was $45,000 and factory
overhead was $22,000 for March.
Inventories were as follows:
Raw materials beginning $10,000; raw materials ending $14,000
Work-in-process beginning $36,000; work-in-process ending $24,000
Finished goods beginning $5,000; finished goods ending $10,000
Required: Calculate the cost of goods manufactured for March for Drake Company. Show your work
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