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utdoor Furniture Company has inventory balances at the end of August as follows:

 

Materials inventory

$21,360

Work-in-Process inventory

15,112

Finished goods inventory

17,120

 

Job order cost cards for jobs in process at the company as of the end of September were as follows:

 

Job Number

Direct Materials

Direct Labor

Mfg Overhead

 

 

 

 

48A

$1,596

$1,290

$1,677

48B

$1,492 

$1,380

$1,794

48C

$1,984

$1,760 

$2,288

48D

$1,608

$1,540 

$2,002

 

Materials purchased and received in September:

 

September 4

$33,120

September 16

$28,600

September 22

$31,920

 

Direct labor costs for September:

 

September 15 payroll

$23,680

September 29 payroll

$25,960

 

Predetermined overhead rate:

 

130% of direct labor costs

 

Direct material transferred to production during September:

 

September 6

$37,240

September 23

$38,960

 

Finished goods with a 75% markup over cost were sold during September for $230,000.

 

a.     Compute the cost of units completed during the month.

b.    What was the total cost of units sold during the month?

c.     What are ending inventory balances?

 

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