Question
Daniel, Inc., plans to produce 5700 ceramic vases. Total budgeted FMOH is $5700. Information regarding the budgeted variable costs are given below: Input standard Price
Daniel, Inc., plans to produce 5700 ceramic vases. Total budgeted FMOH is $5700. Information regarding the budgeted variable costs are given below:
| Input standard | Price standard | ||
| Direct materials | 2 lbs | $1.60 /lb | |
| Direct labor | 1 hr | $13/hr | |
| Variable MOH | 1 hr | $7/hr | |
| Fixed MOH |
Hint: Add Fixed MOH per unit produced (budgeted FMOH/ budgeted production)
The following inventory levels apply to 20X4:
| Beginning inventory | Ending inventory | |
| Direct materials | 11000 lbs | 9000 lbs |
| WIP | 0 units | 0 units |
| Finished goods | 600 vases | 400 vases |
What is the value of ending inventory in dollars?
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
9th Edition
978-0470317549, 9780470387085, 047031754X, 470387084, 978-0470533475
