Answer:
a. Compute cost of goods sold for January
$296,000
b. What is the value of work-in-process inventory on January 31?
$ 27,200
Explanation:
Total Cost Unit Sold
$221,200 $165,000 Materials
$22,000 -$17,000 Labor
$80,000 - Manufacturing overhead
$323,200 $148,000
- a. Compute cost of goods sold for January
Equivalent completed units in ending work-in-process inventory 17.000 x 80% = $13,600
Equivalent units produced 148.000 + 13.600 = 161.600 Units
Per equivalent unit $323,200 / 161.600 = $2,00
Cost of Goods Sold 148.000 / 2,00 = $296,000
- b. What is the value of work-in-process inventory on January 31?
Equivalent completed units in ending work-in-process inventory
13.600 x $2,00 = $27,200
Or it's possible to do it
$323,200 - $296,000 = $ 27.200
