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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.