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Homework answers / question archive / Oriole Company completed Job No

Oriole Company completed Job No

Management

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

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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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