Seth Levine Manufacturing began operations in August 2004. During that month, two jobs were Started. The following costs were incurred:

Factory overhead is applied at 50% of direct labor cost. During the month, Job 1 was completed but not sold. Job 2 has not been completed.
Required:

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

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

Transcribed Image Text:

Direct material Direct labor Job 1 $5,400 Job 2 $8,900 6,500 9,000