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Outdoor Furniture Company has inventory balances at the end of August as follows:
Materials inventory
$21,360
Work-in-Process inventory
15,112
Finished goods inventory
17,120
Job order cost cards for jobs in process at the company as of the end of September were as follows:
Job Number
Direct Materials
Direct Labor
Mfg Overhead
48A
$1,596
$1,290
$1,677
48B
$1,492
$1,380
$1,794
48C
$1,984
$1,760
$2,288
48D
$1,608
$1,540
$2,002
Materials purchased and received in September:
September 4
$33,120
September 16
$28,600
September 22
$31,920
Direct labor costs for September:
September 15 payroll
$23,680
September 29 payroll
$25,960
Predetermined overhead rate:
130% of direct labor costs
Direct material transferred to production during September:
September 6
$37,240
September 23
$38,960
Finished goods with a 75% markup over cost were sold during September for $230,000.
a. Compute the cost of units completed during the month.b. What was the total cost of units sold during the month?c. What are ending inventory balances?
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