Question

Here are selected data for Sunny Sky Corporation:

Beginning raw materials inventory	$37,000	Beginning work in process inventory	$62,200
Beginning finished goods inventory	$58,300	Cost of materials purchased	$151,000
Cost of direct materials requisitioned	$91,300	Direct labor incurred	$135,000
Actual manufacturing overhead	$160,000	Cost of goods manufactured	$287,000
Cost of goods sold	$265,000	Manufacturing overhead rate (per dollar of direct labor cost)	$1.25

What is the finished goods ending inventory?

1. $79,300
   		$80,300
   		$493,700
   		$287,000
   		$91,300

Answer 1

Question

Answer :

  finished goods ending inventory $ 80,300

Cost Sheet
Particulars
Opening Material inventory	37000
Add: Purchase of Raw materials	151000
Less: Closing Material inventory	96700
Direct Materials Consumed	91300
Direct Manufacturing Labor	135000
Prime cost		226300
Add :- Factory Over Heads:
Manufacturing overhead	160000
Works cost incurred		386300
Add : Work - in - Progress inventory	62200
Less: Closing -in-progess inventory	161500
Cost of Goods Manufactured		$ 287000
Add:- Administration & General Over Heads:-
Cost of Production		287000
Add : Opening finihed Goods inventory	58300
Less: Closing Finished goods inventory	80300
Cost of Goods sold		$ 265000
Closing Finished goods inventory	$80300