Question

Last night, the sprinkler system at Plant A was accidentally set off. The ensuing deluge destroyed most of the cost records in Plant A for the month just completed (May). The plant manager has come to you in a panic—he has to complete his report for head office by the end of today. He wants you to give him the numbers he needs for his report. He can provide you with some fragments of information he has been able to salvage:

Raw materials:		Beginning		$24,700
		Ending		55,600
Work in process:		Beginning		17,200
Finished goods:		Sold in May		400,800
		Ending		51,000
Manufacturing overhead:		Beginning		0
Accrued wages payable:		Beginning		11,200
		Ending		18,000

Other information:

1.	Total direct materials requisitions for the month were $180,400.
2.	A total of 9,100 direct labour hours were worked during the month at an average wage of $15/hour.
3.	Manufacturing overhead of $101,000 was incurred during the period.
4.	On May 31, the ending inventory of work in process is $4,700.

What is the  amount paid to the labour force in May ?

What is the cost of finished goods inventory at the beginning of May?

Answer 1

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