Greenberg and Son Manufacturing began two jobs during July 2004. At the beginning of July, Job 227 was the only job in work-in-process inventory. There was no finished goods inventory. The cost in beginning work-in-process inventory for Job 227 consisted of \($1,500\) in direct material cost, \($2,000\) in direct labor cost, and manufacturing overhead cost of

\($4,500\). Total manufacturing overhead for the month was \($16,054\). The following information is available for costs added during July:

Job 227 was completed and sold during July. Job 228 was completed but has yet to be sold, and Job 229 remains in production.
Greenberg’s estimated manufacturing overhead for 2004 is \($180,000\), and the company estimates that the labor force will work 8,000 hours during the year. Greenberg applies overhead to production based on direct labor hours.
Required:

a. Calculate the cost of the ending work-in-process inventory as of July 31, 2004.

b. Calculate the cost of the finished goods inventory as of July 31, 2004.

c. Calculate the cost of goods sold for July.

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Direct material Direct labor Direct labor hours Job 227 $ 935 Job 228 $2,850 Job 229 $1,300 $1,840 $3,225 $1,975 184 310 204