The following additional information is available on the com

The following additional information is available on the company: a. The Work in Process inventory at November 30 consisted of two jobs: Total Cost As of Job No. Units Items November 30 1105 1106 50000 Estate Sprinklers 40000 Economy Sprinklers S 720,000 490,000 $1,210,000 Total b. The Finished Goods Inventory at November 30 consisted of five separate items in stock: Items Quantity and Unit Cost Total Cost Estate Sprinklers 5,000 units at $22 each Brass Nozzles Connectors 110,000 Deluxe Sprinklers 115,000 units at $17 each1,955,000 140,000 Rainmaker Nozzles 5,000 units at $16 per unit80,000 500,000 $2,785,000 10,000 units at $14 per unit 100,000 units at $5 per unit Total

Solution

WIP Stock as on Nov 30 Job ID Item Units Rate Total 1105 Estate Sprinklers          50,000                 14.40 $720,000.00 1106 Economy Sprinklers          40,000                 12.25 $490,000.00 $1,210,000.00 Finished Goods Stock as on Nov 30 Job ID Item Units Rate Total Estate Sprinklers            5,000 22 $110,000.00 Delux Sprinklers       115,000 17 $1,955,000.00 Brass Nozzles 10000 14 $140,000.00 Rainmaker Nozzles 5000 16 $80,000.00 Connectors 100000 5 $500,000.00 $2,785,000.00 Raw Material Usage Material Ind.Mat 1105 Estate Sprinklers          50,000 $210,000.00      8,333.33 1106 Economy Sprinklers          40,000 $6,000.00      6,666.67 1201 Rainmaker Nozzles          30,000 $181,000.00      5,000.00 1202 Delux Sprinklers          10,000 $92,000.00      1,666.67 1203 Ring Sprinklers          50,000 $163,000.00      8,333.33 Indirect Material $30,000.00    30,000.00       180,000 $682,000.00 Payroll during December 1105 Estate Sprinklers            6,000 $62,000.00 1106 Economy Sprinklers            2,500 $26,000.00 1201 Rainmaker Nozzles          18,000 $182,000.00 1202 Delux Sprinklers                500 $5,000.00 1203 Ring Sprinklers            5,000 $52,000.00 Indirect Labour           8,000 $85,000.00 Sales & Admin $122,000.00 Total Direct Man hours          32,000 $534,000.00 Overheads Depreciation $62,500.00 Utilities $15,000.00 Insurance $1,000.00 Property Tax $3,500.00 Maintenance $6,000.00 Total $88,000.00 Per hour overhaed cost $2.7500 Costing Sheet Direct Material (incl WIP) Indirect Material* Direct Labour Ind Lab** Overhead*** Total Cost Per Unit Cost Transfer Unit Balance Units WIP Value Job ID Item Units Cost Cost Hours Cost Cost Cost 1105 Estate Sprinklers          50,000 $930,000.00                     8,333.33            6,000 $62,000.00        15,937.50 $16,500.00 $1,032,770.83                20.66        50,000.00                        -   $0.00 1106 Economy Sprinklers          40,000 $496,000.00                     6,666.67            2,500 $26,000.00          6,640.63 $6,875.00 $542,182.29                13.55        40,000.00                        -   $0.00 1201 Rainmaker Nozzles          30,000 $181,000.00                     5,000.00          18,000 $182,000.00        47,812.50 $49,500.00 $465,312.50                15.51        30,000.00                        -   $0.00 1202 Delux Sprinklers          10,000 $92,000.00                     1,666.67                500 $5,000.00          1,328.13 $1,375.00 $101,369.79                10.14                       -           10,000.00 $101,369.79 1203 Ring Sprinklers          50,000 $163,000.00                     8,333.33            5,000 $52,000.00        13,281.25 $13,750.00 $250,364.58                   5.01        50,000.00                        -   $0.00       180,000 $1,862,000.00 $30,000.00          32,000 $327,000.00              85,000 $88,000.00 $2,392,000.00 $101,369.79 *Apportioned on Unit basis **Indirect Labour apportioned on direct hour basis ***Overheads apportioned on direct hour basis 2. Hence $ value of WIP as on December 31, 2016 is $101,369.79