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What is the ending balance in Work-in-Process?

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Warwick Company has the following transactions for the month of September.

Purchased materials on account for $220,384.

Materials requisitioned for $91,562.

Direct labor for the month was incurred (but not yet paid) of $69,000.

Actual overhead for the month was $41,000. It has not been paid yet. (Charge to various payables)

Overhead is applied to production at the rate of 65% of direct labor.

Jobs totaling $42,500 were transferred from Work-in-Process to Finished Goods.

Jobs costing $23,000 were sold.

Balances at the beginning of the month were:

Materials 22,760

Work-in-Process 0

Finished Goods 10,040

What is the ending balance in Work-in-Process?

Answer a. $162,912

b. $113,083

c. $166.414

d. $123,870

e. $0.

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The solution discusses ending balance in work-in-process.

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work in process

beginning .......................$-
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Solution provided by:
Carol Sargent, PhD
Education
  • BSc, University of Virginia
  • MSc, University of Virginia
  • PhD, Georgia State University
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