Solution-What was the balance in finished goods inventory

What was the balance in finished goods inventory

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Reference no: EM132100354

Question - Test Systems manufactures automated testing equipment. The company uses a job-order costing system and applies overhead on the basis of machine hours (MH). At the beginning of the year, estimated manufacturing overhead was $1,960,000, and the estimated machine hours were 98,000. Data regarding several jobs at R2D2 are presented below.

Job Number	Beginning Balance	Direct Materials	Direct Labour	Machine Hours
XJ-107	$118,600	$4,000	$8,400	150
ST-211	121,450	2,500	12,160	300
XD-108	21,800	86,400	36,650	3,100
SL-205	34,350	71,800	32,175	2,700
RX-115	0	18,990	21,845	1,400

By the end of the first month (January), all jobs but RX-115 were completed, and all completed jobs had been delivered to customers except for SL-205.

Required: What was the balance in Finished Goods inventory at the end of January?

Reference no: EM132100354

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What was the balance in finished goods inventory

Reference no: EM132100354

Reference no: EM132100354

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