Carver Test Systems Manufactures Automated Testing Equipment

question 94

Essay

Carver Test Systems manufactures automated testing equipment.The company uses a job-order costing system and applies overhead on the basis of machine hours (MH).At the beginning of the year,estimated manufacturing overhead was $1,960,000,and the estimated machine hours was 98,000.Data regarding several jobs at Carver are presented below.
By the end of the first month (January),all jobs but RX-115 were completed,and all completed jobs had been delivered to customers except for SL-205.
Required:
What was the balance in Finished Goods inventory at the end of January?

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Definitions:

Fascist Aggression

The expansionist policies and acts of aggression carried out by fascist regimes, notably those of Germany and Italy in the lead-up to and during World War II.

Spanish Civil War

A military conflict from 1936 to 1939 between the Republicans, who were loyal to the democratic Spanish Republic, and the Nationalists, a rebel group led by General Francisco Franco.

Francisco Franco

A Spanish general who led the Nationalist forces to victory in the Spanish Civil War and governed Spain as a dictator from 1939 until his death in 1975.

Vichy Regime

The government of unoccupied France during World War II, collaborating with Nazi Germany from 1940 to 1944.