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River falls Manufacturing uses a normal cost system and had the following data available for 2018....

River falls Manufacturing uses a normal cost system and had the following data available for 2018. direct material purchased on accident 152,000 direct materials requisitioned 87,000 Direct labor cost incurred 126,000. Factory overhead incurred 144,000 cost of goods completed 287,000. Cost of goods sold 253,000 Beginning direct materials inventory 30,000 beginning WIP inventory 70,000 Beginning finished goods inventory 52,000 Overhead application rate ,as a percent of direct -labor costs 135 percent The ending balance of finished goods inventory is
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Answer #1
Answer:
Particulars Amount (in $ )
Cost of goods completed $ 287,000
Less: Cost of goods sold ($ 253,000)
Add: Beginning finished goods inventory $ 52,000
Ending balance of finished goods inventory $ 86,000
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