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Bag Company had a beginning inventory of 4000 bags with costs of $18,000. The direct materials were complete and all overhead had been assigned, however,only
Bag Company had a beginning inventory of 4000 bags with costs of $18,000. The direct materials were complete and all overhead had been assigned, however,only 40% of direct manufacturing labour was added in the prior period. Another 20,000 units were started and completed during the current period. Unit costs are as follows: materials $8.00 labour $9.00 overhead $5.00 What is the total cost of goods transferred out using the FIFO method?
a 479,600
b 440,000
c 519,500
472,400
491,600
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