Fire Cat, Inc selected cost data for the year are shown below
Cost of Goods Manufactured $145,500
Work-in-Process Inventory, Jan. 1 19,500
Work-in-Process Inventory, Dec. 31 22,000
Direct Materials Used 18,600
What is the total of manufacturing costs incurred by Fire Cat, Inc during the year?
A) $148,000
B) $143,000
C) $22,900
D) $38,100
A .A) Total manufacturing costs incurred = Ending Work-in-Process Inventory + Cost of Goods Manufactured - Beginning Work-in-Process Inventory = $22,000 + $145,500 - $19,500 = $148,000
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