What is the ending balance in Work-in-Process?
Not what you're looking for?
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. $0.
Purchase this Solution
Solution Summary
The solution discusses ending balance in work-in-process.
Solution Preview
work in process
beginning .......................$-
DM used ...
Education
- BSc, University of Virginia
- MSc, University of Virginia
- PhD, Georgia State University
Recent Feedback
- "hey just wanted to know if you used 0% for the risk free rate and if you didn't if you could adjust it please and thank you "
- "Thank, this is more clear to me now."
- "Awesome job! "
- "ty"
- "Great Analysis, thank you so much"
Purchase this Solution
Free BrainMass Quizzes
Income Streams
In our ever changing world, developing secondary income streams is becoming more important. This quiz provides a brief overview of income sources.
Understanding the Accounting Equation
These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.
Social Media: Pinterest
This quiz introduces basic concepts of Pinterest social media
Business Processes
This quiz is intended to help business students better understand business processes, including those related to manufacturing and marketing. The questions focus on terms used to describe business processes and marketing activities.
Paradigms and Frameworks of Management Research
This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.