Exit Su MC Qu. 93 The Fabricating Department started... The Fabricating Departme

Question

Exit Su MC Qu. 93 The Fabricating Department started... The Fabricating Department started the current month with a beginning Work in Process inventory of $10,700. During the month, it wats assigned the following costs: direct materials, $76700; direct labor, $24700, and factory overhead, 60% of direct labor cost Ason entry with a cost of $112.500 was transferred out of the department to the next phase in the process. The ending balance of the Work in Process Inventory account for the Fabricating Department is: Multiple Choice $182.232 $64,620 $69732

Explanation / Answer

Beginning inventory $    10,700 Add: Direct materials $    76,700 Direct labor $    24,700 Factory overhead $    14,820 24700*60% Less: Transferred out to another departent $ 112,500 Ending inventory $    14,420

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