Thi luestion: 3ptscompThis Test:150 pts possble This Question: 3 pts Warren Manu

Question

Thi luestion: 3ptscompThis Test:150 pts possble This Question: 3 pts Warren Manufacturing began business on January 1. During its first year of operation, Warren worked on five industrial jobs and reported the following information at year -end: Job 1 Job2 Job 3 Job 4Job 5 Direct Materials Direct Labor Allocated Mfg. Overhead $1,000 $7,500 $4,500 $3,100 $1,500 2,100 Jun 30 Sep Oct 15 Nov 1 completed 800 200 Not 12,000 20,000 13,400 12,000 1,500 6,000 7,100 Job completed Job sold: Revenues Not sold N/A N/A N/A Jul 10 Not sold Sep 12 $25,000 $39,000 N/A What was the balance in Finished Goods Inventory at year- end? O A. $42,200 OB, $33,000 ??. $22.200 O D. $20,000

Explanation / Answer

Balance in Finished goods inventory at year-end = Cost of Job 3 and Cost of Job 4 = (4500+13400+2100)+(3100+12000+7100)= $42200 Option A is correct

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.