Jupiter Manufacturing began business on January 1, 2015. During its first year o

Question

Jupiter Manufacturing began business on January 1, 2015. During its first year of operation, Jupiter worked on five industrial jobs, and reported the following information at year end Job 5 1,500 800 200 Not completed NIA NIA Job 2 7,500 Job 3 4,000 12,000 20,000 13,000 2,500 Job 4 3,500 12,000 7,500 Job 1 Direct Materials Direct Labor Allocated Mfg. Overhead 1,000 1,500 Jun 30 6,000 Job completed Job sold Revenues Sep 1 Sep 12 25,00039,000 Nov 1 Not soldNot sold NIA Oct 15 Jul 10 N/A What was the balance in Finished Goods Inventory at year-end? OA. B. OC. OD, $42.500 $45,000 $90,500 $19,500

Explanation / Answer

Calculate finished goods inventory at year end :

so answer is a) $42500

Job 3 Direct material 4000 Direct labour 13000 Manufacturing overhead 2500 Job 4 Direct material 3500 Direct labour 12000 Manufacturing overhead 7500 Total finished goods inventory 42500

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