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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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Definitions:

Diet Vs. Regular

A comparison often made regarding beverages, highlighting differences in calories, sugar content, and ingredients between diet (low-calorie or sugar-free) versions and regular (full-calorie or sugared) varieties.

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The amount of a product or service used or consumed over the duration of one week, often measured for budgeting or dietary purposes.

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The specific physical position of something or someone on Earth, often described using coordinates of latitude and longitude.

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The total number of hours an individual spends performing job duties within a specific timeframe, such as a week or month.

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