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GalinKa [24]
1 year ago
5

during its first year of operations, silverman company paid $11,440 for direct materials and $9,900 for production workers' wage

s. lease payments and utilities on the production facilities amounted to $8,900 while general, selling, and administrative expenses totaled $4,400. the company produced 5,600 units and sold 3,400 units at a price of $7.90 a unit. what is the amount of finished goods inventory on the balance sheet at year-end?
Business
1 answer:
algol131 year ago
4 0

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

Find out more about inventory valuation on:brainly.com/question/17230868

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