What ghi cost of goods available for sale for the year was

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GHI Inc. has commenced work on three jobs during its first year of operations. Costs incurred for each of these jobs are as follows:

                                    Job 1             Job 2                Job 3

Direct Materials       $100,000        $150,000        $200,000

Direct Labour         $100,000        $200,000         $250,000

Question 1: Overhead is applied to jobs at a rate of $0.50 per direct labour dollar spent. During the year, Job 1 was completed, while Job 2 was completed and sold. Job 3 is still process at the end of the year. GHI's Cost of Goods Available for Sale for the year was

Reference no: EM132524282

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