Canmore Company Has the Following Data Pertaining to 2018 Factory Overhead Rate Is 125 Percent of Direct Labor Costs

question 126

Multiple Choice

Canmore Company has the following data pertaining to 2018: $$\begin{array} { l r } \text { Beginning materials inventory } & \$ 50,000 \\\text { Beginning work-in-process inventory } & 0 \\\text { Beginning finished goods inventory } & 0 \\\text { Materials placed into production } & 125,000 \\\text { Materials purchased on account } & 137,500 \\\text { Direct labor incurred (10,000 hours) } & 62,500 \\\text { Cost of goods completed (Job B B8) } & 25,000\end{array}$$
Factory overhead rate is 125 percent of direct labor costs.
What is the ending materials inventory balance for Canmore in 2018?

• A)$50,000
• B)$62,500
• C)$12,500
• D)$37,500

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