Chapter 18-Quiz Saved Compute ending work in process inventory for a manufacture

Question

Chapter 18-Quiz Saved Compute ending work in process inventory for a manufacturer with the following information. Raw materials purchased Direct materials used Direct labor used Total factory overhead Work in process inventory, beginning of year Cost of goods manufactured $131,000 75, 600 63, 000 95, 700 27,600 222, 800 10 points ing Work in Process Inventory is Computed as: Total manufacturing costs Total cost of work in process Work in process inventory, end of year Prey 1 of 5 H. Scoreanswer >

Explanation / Answer

Ending work in process inventory is computed as:

Direct labor used in production $63,000 Factory overhead used in production $75,600 Raw materials used in production $95,700    Total manufacturing costs $234,300 Add: Work in process inventory, beginning of year $27,600 Total cost of work in process $261,900 Less: Cost of goods manufactured $222,800 Work in process inventory, end of year $39,100

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