If the cost of the beginning goods in process inventory is $85,000, costs of goo

Question

If the cost of the beginning goods in process inventory is $85,000, costs of goods manufactured is $960,000, direct materials cost is $344,000, direct labor cost is $224,000, and overhead cost is $329,000, calculate the ending goods in process inventory:

If the cost of the beginning goods in process inventory is $85,000, costs of goods manufactured is $960,000, direct materials cost is $344,000, direct labor cost is $224,000, and overhead cost is $329,000, calculate the ending goods in process inventory:

Explanation / Answer

the ending goods in process inventory=beginning goods in process inventory is $85,000+ direct materials cost is $344,000+direct labor cost is $224,000+ overhead cost is $329,000-costs of goods manufactured is $960,000=$22,000.

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