The following inventory and cost data for the just completed year are taken from the accounting records of Shankar Company:InventoriesIncrease in raw materials $4,000Increase in work in process 30,000Decrease in finished goods 90,000Cost IncurredAdvertising expense 0,000Direct Labour Cost 180,000Purchase of raw materials 264,000Rent, factory building 60,000Indirect factory labour 112,600Sales Commissions 70,000Utility, factory 18,000Maintenance, factory equipment 48,000Supplies, factory 1,400Depreciation, office equipment 16,000Depreciation, factory equipment 80,000Calculate the cost of goods manufactured?Which items in the cost incurred should be included in the manufactured overhead?
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