Bramble Corp. developed the following data for the current year: Beginning work in process inventory $290000 Direct materials used 184000 Actual overhead 328000 Overhead applied 256000 Cost of goods manufactured 304000 Total manufacturing costs 850000 Bramble Corp.'s ending work in process inventory is $256000. $560000. $546000. $836000.
Bramble Corp. developed the following data for the current year: Beginning work in process inventory $290000 Direct materials used 184000 Actual overhead 328000 Overhead applied 256000 Cost of goods manufactured 304000 Total manufacturing costs 850000 Bramble Corp.'s ending work in process inventory is $256000. $560000. $546000. $836000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Bramble Corp. developed the following data for the current year:
| Beginning work in process inventory | $290000 |
| Direct materials used | 184000 |
| Actual |
328000 |
| Overhead applied | 256000 |
| Cost of goods manufactured | 304000 |
| Total |
850000 |
Bramble Corp.'s ending work in process inventory is
$256000.
$560000.
$546000.
$836000.
Expert Solution
Step 1
Work in process (WIP) also called in-process inventory are the company’s partially finished goods which are yet to be completed. The figures of WIP are listed in company’s balance sheet.
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