Question No 4:

The cost department of the white corporation prepared the following data and cost for the year 2017

Inventories January 1 December 31 Finished goods..46,700 ?

Work in Process79,000 40,350

Materials ...35,000 42,300

Depreciation factory equipment..21,350

Interest earned..6,300 Finished goods inventory January 1:200units; December 31;320 units all from current year production. Sold during the year 3000units at 300 per unit.

Material purchased364,000

Direct labor162,500

FOHcontrol(excluding

Depreciation).137,600

Requirements

The unit cost of the finished goods inventory, December,31

The total cost of the finished goods inventory, December,31 (5 marks)

NOTE: answer required with rough work of each step