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The following information relates to production of ABC Company for the month of March 2019: Direct Materials used              10,000; Direct labor rate per hour                  5.00 ; Overhead cost             2,300.00 ; Direct labor hours employed              500.00 ; Gross Profit rate      25% based on selling price; Increase in WIP             1,100.00 ; Ending inventory of Finished goods is 30% of its beginning balance; Total sales                       50,000.00. What is the ending inventory of Finished goods of the company?

The following information relates to production of ABC Company for the month of March 2019: Direct Materials used              10,000; Direct labor rate per hour                  5.00 ; Overhead cost             2,300.00 ; Direct labor hours employed              500.00 ; Gross Profit rate      25% based on selling price; Increase in WIP             1,100.00 ; Ending inventory of Finished goods is 30% of its beginning balance; Total sales                       50,000.00. What is the ending inventory of Finished goods of the company?

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 27E: Selected information concerning the operations of a company for the year ended December 31 is as...
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The following information relates to production of ABC Company for the month of March 2019:

Direct Materials used              10,000;
Direct labor rate per hour                  5.00 ;
Overhead cost             2,300.00 ;
Direct labor hours employed              500.00 ;
Gross Profit rate      25% based on selling price;
Increase in WIP             1,100.00 ;
Ending inventory of Finished goods is 30% of its beginning balance;
Total sales                       50,000.00.


What is the ending inventory of Finished goods of the company?

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