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Calculate the cost of the ending inventory

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Question - Nautical footwear Inc. manufactures women's boating shoes. Manufacturing overhead is assigned to production on a machine-hour basis. For 2019, it was estimated that manufacturing overhead total $ 361,680 and that 28,990 machine hours would be used.

a) Calculate the predetermined overhead application rate that will be used for absorption costing purposes during 2019.

b) During May, 3,500 pairs of shoes were made. Raw materials costing $ 6,440 were used, and direct labor cost totaled $9,630. A total of 730 machine hours were worked during the month of May. Calculate the cost per pair of shoes made during May.

c) At the end of May, 1,450 pairs of shoes were in ending inventory. Calculate the cost of the ending inventory and the cost of the shoes sold during May.

Reference no: EM133003262

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