Solution-How much is the balance of the finished goods

How much is the balance of the finished goods inventory

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Reference no: EM133016956

Question - Brillantes Design Company makes custom chairs for individual customers. On May 1, there was one job in process, Job 243, with a cost of P1,300. Jobs 244, 245, and 246 were started during the month of October. Data on costs added during the month are as follows:

Job 243 Job 244 Job 245 Job 246

Direct Materials P8,400 P2,300 P5,550 P9,200

Direct Labor P3,100 P980 P2,200 P5,010

Overhead is applied to production at the rate of 70% of direct labor cost. Job 245 was completed on May 14 and the client was billed at cost plus 55%. All other jobs remained in process.

Based on the information provided, how much is the balance of the finished goods inventory as of May 31?

Reference no: EM133016956

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How much is the balance of the finished goods inventory

Reference no: EM133016956

Reference no: EM133016956

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