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Oriole Company completed Job No
Oriole Company completed Job No. B14 during 2019. The job cost sheet listed the following:
Direct materials$160000Direct labor$150000Manufacturing overhead applied$130000Units produced1000 unitsUnits sold800 units
How much is the cost of the finished goods on hand from this job?
$ 88000
$352000
$440000
$414000
Expert Solution
Computation of Cost of the Finished Goods on Hand:
Cost of the Finished Goods on Hand = Units on Hand * Unit Cost
= 200 * $440
= $88,000
Workings:
| Computation of Unit Cost: | |
| Direct materials | $160,000 |
| Direct labor | $150,000 |
| Manufacturing overhead applied | $130,000 |
| Total Cost (a) | $440,000 |
| Total units produced (b) | 1,000 |
| Unit Cost (a/b) | $440 |
| Computation of Units on Hand: | |
| Units produced | 1000 |
| Less: Units sold | 800 |
| Units on hand |
200
|
So, the correct option is 1st "$88,000".
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