Answer:
1 Cost of goods sold $ 13,350
2. Value of finished goods ending inventory $ 16,200
3. Value of work in process inventory $ 0
Explanation:
Computation of cost of goods sold
Determination of per unit cost
Opening balance $ 7,000
Direct Materials $ 12,600
Direct Labour $ 3,500
Manufacturing overhead applied <u> $ 6,900</u>
Total cost of Job X32Z $ 30,000
Units completed 250
Cost per unit $ 120
Units sold 115 units
Cost of goods sold $ 120 * 115 $ 13,800
Add; Adjustment for over applied overhead <u>$ ( 450)</u>
Cost of goods sold $ 13,350
Computation of Finished Goods Inventory value
Units produced 250
Units sold <u>115</u>
Units in ending inventory 135
Cost per unit $ 120 per unit
Value of ending inventory $ 120 unit * 135 units $ 16,200
Computation of Work in process inventory
There are no units in process at the end of May, so there is no work in process. so then value is $ 0
