Haver Corporation has provided the following data concerning last month's operations. Purchases of raw materials$32,000Indirect materials included in manufacturing overhead$4,000Direct labor cost$58,000Manufacturing overhead applied to Work in Process$84,000 BeginningEndingRaw materials inventory$10,000 $16,000 Work in process inventory$58,000 $74,000 Finished goods inventory$32,000 $49,000 How much is the cost of goods available for sale on the Schedule of Cost of Goods Sold?
A. $134,000
B. $148,000
C. $131,000
D. $180,000
Answer: D
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The debits to Work in Process--Assembly Department for April, together with data concerning production, are as follows: April 1, work in process: Materials cost, 3,000 units $ 7,200 Conversion costs, 3,000 units, 60% completed 6,000 Materials added during April, 10,000 units 25,000 Conversion costs during April 35,750 Goods finished during April, 12,000 units --- April 30 work in process, 1,000
units, 40% completed --- All direct materials are placed in process at the beginning of the process and the first-in, first-out method is used to cost inventories. The materials cost per equivalent unit for April is: A) $2.48 B) $2.08 C) $2.50 D) $5.25
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