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What was the manufacturing overhead cost for the year

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Reference no: EM132786653

Question - Geneva Steel Corporation produces large sheets of heavy gauge steel. The company showed the following amounts relating to its production for the year just completed:

Direct materials used in production $108,000

Direct labour costs for the year $56,000

Work in process, beginning $21,200

Finished goods, beginning $47,000

Cost of goods available for sale $293,500

Cost of goods sold $227,500

Work in process, ending $18,500

Required -

A. What was the balance of the finished goods inventory at the end of the year?

B. What was the manufacturing overhead cost for the year?

Reference no: EM132786653

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