Radio Manufacturing Company produces JL radios for automobiles. The following cost information is available for the period ending December 31, 2020: Materials used in production: $120,000, of which $80,000 was for direct materials. Labor cost: $90,000, of which $25,000 was for indirect labor. Indirect manufacturing costs for general services: $40,000. Selling expenses $23,000, administrative expenses $37,000. Radios produced 5,000, radios sold 3,800.

 Calculate the cost of ending inventory

Answer rating: 100% (QA)

Firstly lets calculate the cost of goods manufactured COGM by adding up all the direct costs involve... View the full answer