Author Question: River Falls Manufacturing uses a normal cost system and had the following data available for 2018: ... (Read 28 times)

sammy · **on:** Mar 6, 2021

River Falls Manufacturing uses a normal cost system and had the following data available for 2018:

Direct materials purchased on account

$145,000

Direct materials requisitioned

82,000

Direct labor cost incurred

127,000

Factory overhead incurred

140,000

Cost of goods completed

288,000

Cost of goods sold

248,000

Beginning direct materials inventory

25,000

Beginning WIP inventory

63,000

Beginning finished goods inventory

53,000

Overhead application rate, as a percent of direct-labor costs

125 percent

The ending balance of finished goods inventory is ________.
◦ $53,000
◦ $40,000
◦ $93,000
◦ $288,000

kswal303 · **Reply #1 on:** Mar 6, 2021

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