Baker company produces refrigerators calculate the cost of


Question - Baker Company produces refrigerators. Each refrigerator contains a small thermostat that costs $8. During August, 900 thermostats were drawn from the supply room and installed in refrigerators that were in production. Seventy percent of these refrigerators were completed and transferred into finished goods warehouses. Of the refrigerators completed, sixty percent were still unsold at the end of the month. Baker Company had no beginning inventories of any kind at August 1.

Calculate the cost of thermostats in finished goods inventory at August 31.

Do not use decimals in your answer.

Solution Preview :

Prepared by a verified Expert
Accounting Basics: Baker company produces refrigerators calculate the cost of
Reference No:- TGS02466866

Now Priced at $25 (50% Discount)

Recommended (94%)

Rated (4.6/5)