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The following information relates to production of JJK CORP for the month of Oct 2011: Direct Materials used 10,000 Direct labor rate per hour 5.00
The following information relates to production of JJK CORP for the month of Oct 2011:
- Direct Materials used 10,000
- Direct labor rate per hour 5.00
- Overhead cost 2,300
- Direct labor hours employed 500
- Gross Profit rate 25% based on selling price
- Increase in WIP 1,100
- Ending inventory of Finished goods is 30% of its beginning balance
- Total sales 50,000
What is the ending inventory of Finished goods of the company?
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