Take Test-Manag- Unit 3 Annual Repor Chapter 2 Flashcard. Home I Chegg.com ACC 2

Question

Take Test-Manag- Unit 3 Annual Repor Chapter 2 Flashcard. Home I Chegg.com ACC 221-N02 Fall 2017 Test: Test Chapters 17 18 19 This Question: 1 pt I5 of 48 (13complete) The accounts of Melissa Manufacturing showed the following balances at the beginning of December Account Raw Materials Inventory Work-in-Process Inventory Finished Goods Inventory Manufacturing Overhead Debit $56,000 76,000 36,000 19,000 The following transactions took place during the month: December 2: Issued direct materials $23,000 and indirect materials $6,000 to production December 15: Incurred $6,000 and$4,000 toward factory's direct labor cost and indirect labor cost, respectively What should be the balance in the Work-in-Process Inventory following these transactions? O A $59,000 O 8. $82,000 c. $105,000 D. S80.000 Click to select your arswer

Explanation / Answer

1 calculation of the working progress inventory balance 1 beginning balance of work in process inventory 76000 2 direct materials issued 23000 3 direct labor incurred 6000 4 total closing balance ( 1 + 2 + 3 ) 105000 answer c 105000

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