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Finished Goods Inventory for Juanita Corporation

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29. Juanita Corporation uses a Job-Order cost system and applies overhead on the basis of direct labor cost. At the end of October, Juanita had one job still in process. The job cost sheet for this job contained the following information:

Direct Material $480
Direct Labor $150
Manufacturing Overhead $600

An additional $100 of labor was needed in November to complete this job. For this job, how much should Juanita have transferred to Finished Goods Inventory in November when it was completed?
A) $1,330.
B) $ 500.
C) $1,230.
D) $1,730.

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Solution Summary

The solution explains the amount of goods transferred to finished goods inventory with calculations.

Solution Preview

The total amount in work in process is 480+150+600=1,230. An additional $100 of labor is needed. The overhead is applied ...

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