What is the cost of goods finished for abc pte ltd

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Reference no: EM132695036

ABC PTE LTD had the following information available for May 2020:

Work in Process, May 1 $20,000

Materials placed into production, May 27,500

Direct labour, May 37,500

Factory overhead rate is 150 percent of direct labour costs. Job cost sheets had the following balances:

Job Z1 $32,500

Job Z $255,000

Job Z $335,000

Job Z $418,750

Jobs Z3 and Z4 were not completed at the end of May.

Problem 1: What is the cost of goods finished for ABC PTE LTD during May?

1) $85,000

2) $87,500

3) $56,250

4) $53,750

Reference no: EM132695036

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