Question: Browning Company had 8,700 units in beginning inventory with accumulated costs for direct materials of $17,900, $16,500 direct labor. and $13,200 of overhead. During July, the company completed and transferred 50,000 units to finished goods. Costs incurred in the current period included $45,000 of direct materials, $58,500 of direct labor, and $46,800 of factory overhead. Ending inventory consisted of 12,000 units which were 80% complete with respect to materials and 50% complete with respect to labor and overhead. Compute the value assigned to ending inventory based on the weighted average method of inventory costing.
Question: Browning Company had 8,700 units in beginning inventory with accumulated costs for direct materials of $17,900, $16,500 direct labor. and $13,200 of overhead. During July, the company completed and transferred 50,000 units to finished goods. Costs incurred in the current period included $45,000 of direct materials, $58,500 of direct labor, and $46,800 of factory overhead. Ending inventory consisted of 12,000 units which were 80% complete with respect to materials and 50% complete with respect to labor and overhead. Compute the value assigned to ending inventory based on the weighted average method of inventory costing.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Question:
Browning Company had 8,700 units in beginning inventory with
accumulated costs for direct materials of $17,900, $16,500 direct labor.
and $13,200 of overhead.
During July, the company completed and transferred 50,000 units to
finished goods. Costs incurred in the current period included $45,000 of
direct materials, $58,500 of direct labor, and $46,800 of factory
overhead. Ending inventory consisted of 12,000 units which were 80%
complete with respect to materials and 50% complete with respect to
labor and overhead.
Compute the value assigned to ending inventory based on the weighted
average method of inventory costing.
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