Answer:
$649,450
Explanation:
In these kind of situations it is generally assumed that there is FIFO,
Therefore, the goods entered first that is work in progress is completed and then the goods added are completed.
Cost of goods manufactured = Opening Work in process + Direct expense added in the period - closing work in process.
= $189,100 + $64,750 + $198,400 + $394,800 - $197,600
= $649,450
Cost of goods manufactured includes direct material cost, direct labor cost and all the direct factory overheads incurred during the month.
Therefore, current year cost of goods manufactured is calculated as above, which is = $649,450.
