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Business, 05.12.2019 21:31 drewdean5545

Cook builders manufactures custom furniture only and uses a job order costing system to accumulate costs. actual direct materials and direct labor costs are accumulated for each job, but a predetermined overhead rate is used to apply manufacturing overhead costs to individual jobs. manufacturing overhead is applied on the basis of direct labor hours. in computing a predetermined overhead rate, the controller estimate that manufacturing overhead costs for the year would be $200,000 and direct labor hours would be 20,000. the following summary information is available for the year. raw materials purchased during the year were $275,000 raw materials used in production during the year were $250,000 wages paid to the furniture craftsmen during the year totaled $440,000 (22,000 hours) wages paid to factory maintenance workers during the year totaled $60,000 depreciation on machinery and equipment during the year totaled $90,000 rent and utilities for the factory building during the year totaled $45,000 manufacturing overhead was applied to work-in-process inventory using the predetermined overhead rate work-in-process inventory costing $850,000 was completed and transferred to finished goods inventory goods costing $800,000 were sold assume that the beginning balance in the finished goods inventory account was $0. what is the ending balance of the finished goods inventory account?

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