What is the ending balance in kingston fabrications

Reference no: EM133661696

Question: Kingston Fabrications, a specialized equipment producer, operates a job-order costing system. The company's financial data for the recently concluded fiscal year is as follows: Beginning inventories: Raw materials: $47,000 Work in process: $20,000 Estimated total manufacturing overhead at the start of the year: $646,250 Estimated direct labor-hours at the start of the year: 47,000 direct labor-hours Results of operations: Raw materials purchased on account: $538,000 Raw materials (all direct) used in production: $535,000 Direct labor cost: $699,000 Actual direct labor-hours worked: 37,000 direct labor-hours Manufacturing overhead details: Indirect labor cost: $134,000 Other manufacturing overhead costs: $453,000 Total cost of goods manufactured: $1,568,000 Based on this information, what is the ending balance in Kingston Fabrications' Raw Materials inventory account?

Reference no: EM133661696

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