The amount of finished goods inventory on the balance sheet at year-end is $11,880
What is the cost of producing 5,600 units?
The cost of producing the finished goods of 5,600 units is the sum of direct materials, workers' wages and lease payments and utilities on the production facilities
total production costs=direct materials+ production workers' wages+ lease payments and utilities on the production facilities
total production costs=$11,440+$9,900+$8,900
total production costs=$30,240
cost per unit=$30,240/5,600
The finished goods inventory is units produced minus the units sold
finished goods inventory=5600-3400
finished goods inventory=2,200
finished goods inventory on the balance sheet=2200*$30,240/5,600
finished goods inventory on the balance sheet=$11,880
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