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Cost - Quiz 2 - #1 The following events took place at a...

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Accounting

Cost - Quiz 2 - #1

The following events took place at a manufacturing company for the current year:

  1. (1) Purchased $95,000 in direct materials.
  2. (2) Incurred labor costs as follows: (a) direct, $56,000 and (b) indirect, $13,600.
  3. (3) Other manufacturing overhead was $107,000, excluding indirect labor.
  4. (4) Transferred 80% of the materials to the manufacturing assembly line.
  5. (5) Completed 65% of the Work-in-Process during the year.
  6. (6) Sold 85% of the completed goods.
  7. (7) There werenobeginning inventories.

What is the value of the ending Finished Goods Inventory?

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