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To determine the total amount debited to Finished Goods Inventory, we need to calculate the total manufacturing costs incurred during the year and subtract the ending balance of work-in-process (WIP) inventory.

Here’s the calculation:

1. **Total Manufacturing Costs**:
   - Materials placed into production: $140,000
   - Direct labor: $160,000
   - Applied factory overhead: $100,000

   **Total Manufacturing Costs** = $140,000 + $160,000 + $100,000 = **$400,000**

2. **Adjust for Ending Work-in-Process Inventory**:
   - Since the work-in-process inventory has a $0 beginning balance, the only adjustment is for the end of period WIP inventory.
   - End of period WIP inventory: $30,000

3. **Total Cost Transferred to Finished Goods Inventory**:
   \[
   \text{Total Cost Transferred to Finished Goods Inventory} = \text{Total Manufacturing Costs} - \text{Ending WIP Inventory}
   \]
   \[
   = 400,000 - 30,000 = 370,000
   \]

Thus, the total amount debited to Finished Goods Inventory for the year is **$370,000**.

Would you like a detailed breakdown of the job-order costing process, or do you have any other questions?

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### Related Questions
1. How is applied overhead calculated in a job-order costing system?
2. What would happen to the total if there was a beginning balance in WIP inventory?
3. How does a job-order costing system differ from process costing?
4. Why is it important to adjust for WIP inventory in the calculation?
5. How would underapplied or overapplied overhead impact Finished Goods Inventory?

### Tip
In job-order costing, it’s essential to track all direct and indirect costs associated with production to ensure accurate financial records and inventory valuation.

Lanyard Company uses a job-order costing system to account for product costs. The following information pertains to the year: 

Materials placed into production: $140,000
Direct labor: $160,000
Applied factory overhead: $100,000
End of period work-in-process inventory: $30,000

What is the total amount debited to Finished Goods Inventory in the year? (Assume work-in-process inventory has a $0 beginning balance.)

Learn how to calculate the total amount debited to Finished Goods Inventory using job-order costing. This example involves materials costs of $140,000, direct labor of $160,000, and applied overhead of $100,000, adjusted for an ending work-in-process inventory of $30,000. Suitable for college-level accounting students.

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