Reference no: EM132540057
Question - The following information is available for the BCD Limited for 20X9:
Materials inventory decreased $4,000 during 20X9.
Materials inventory on 31 December 20X9, was 50% of materials inventory on 1 January 20X9.
Beginning work in process inventory was $140,000.
Ending finished goods inventory was $65,000.
Purchases of direct materials were $150,000.
Direct materials used were 2.5 times the cost of direct labor.
Manufacturing overhead was 50% of the cost of direct labor.
Total manufacturing costs incurred were $246,400, 80% of cost of goods manufactured and $150,000 less than cost of sales.
Required - Calculate the following
a) finished goods inventory on 1 January 20X9
b) work in process inventory on 31 December 20X9
c) direct labour incurred
d) manufacturing overhead incurred
e) direct materials used
f) materials inventory on 1 January 20X9
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