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Russell Company Has the Following Data Pertaining the Current Year

question 35

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Russell Company has the following data pertaining the current year:  Beginning materials inventory $50,000 Beginning work-in-process inventory 0 Beginning finished goods inventory 0 Materials placed into production 125,000 Materials purchased on account 137,500 Direct labour incurred (10,000 hours)  62,500 Cost of goods completed (Job BB8)  25,000\begin{array}{lr}\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 labour incurred (10,000 hours) } & 62,500 \\\text { Cost of goods completed (Job BB8) } & 25,000\end{array}
Factory overhead rate is 125 percent of direct labour costs.
What is the ending materials inventory balance for Russell?


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