Question

Sportly, Inc. completed Job No. B14 during 2011. The job cost sheet listed the following: Direct materials $44,000 Direct labor $24,000 Manufacturing overhead applied $16,000 Units produced 3,000 units Units sold 1,800 units How much is the cost of the finished goods on hand from this job

Answer 1

Based on the direct materials, the direct labor, and the manufacturing overhead, the cost of finished goods on hand is $33,600.

What is the cost of finished goods on hand for this job?

Cost of goods on hand is:

= Cost of goods per unit x Number of goods on hand

Cost of goods per unit is:
= (44,000 + 24,000 + 16,000) / 3,000 units

= $28 per unit

Cost of goods on hand:

= 28 x (3,000 - 1,800)

= $33,600

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