Information for the Deuce Manufacturing Company Follows

question 55

Essay

Information for the Deuce Manufacturing Company follows. Compute the cost of goods manufactured for this company.
$\begin{array}{|l|r|}\hline \text { Beginning raw materials inventory } & \$ 53,200 \\\hline \text { Beginning work in process, inventory } & 78,400 \\\hline \text { Ending raw materials inventory } & 58,100 \\\hline \text { Ending work in process, inventory } & 98,000 \\\hline \text { Direct labor } & 149,800 \\\hline \text { Total factory overhead } & 105,000 \\\hline \text { Raw material purchases } & 210,000\\\hline\end{array}$

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Definitions:

Exports

Goods or services sold by one country to purchasers in another country.

Imports

Goods or services brought into a country from abroad for sale, which can impact a nation's balance of trade.

Trade Deficit

A situation where a country's imports of goods and services exceed its exports, resulting in a negative balance of trade.

GDP

Gross Domestic Product, the total market value of all final goods and services produced within a country in a given period of time.