Question
Brankovich Company uses a job-order costing system and has the following data available: Beginning Direct Materials Inventory $26,000 Beginning Work-In-Process Inventory $64,000 Beginning Finished Goods
Brankovich Company uses a job-order costing system and has the following data available:
Beginning Direct Materials Inventory $26,000
Beginning Work-In-Process Inventory $64,000
Beginning Finished Goods Inventory $58,000
Direct materials purchased on account $148,000
Direct materials requisitioned $90,000
Direct labor cost incurred $130,000
Factory overhead incurred $146,000
Cost of goods completed $292,000
Cost of Goods Sold $256,000
Overhead application rate (based on direct labor cost) 125%
What is the cost of the ending inventory of Direct Materials?
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