Note: Always keep track of your work. Wowza Corporation manufactures party supplies and uses a predetermined overhead. The CFO has estimated total manufacturing costs to be $108.500, and the activity driver is direct labor hours, which are estimated to be 62,000 hours. The following beginning balances are below: Work in Process Finished Goods $ 19,800 $ 37,100 Calculate the ending balance for Work in Process (WIP)

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Note: Always keep track of your work.
Wowza Corporation manufactures party supplies and uses a predetermined overhead.
The CFO has estimated total manufacturing costs to be $108,500, and the activity driver is direct
labor hours, which are estimated to be 62,000 hours.
The following beginning balances are below:
Work in Process
Finished Goods
$
19,800
$ 37,100
Calculate the ending balance for Work in Process (WIP)
Transcribed Image Text:Note: Always keep track of your work. Wowza Corporation manufactures party supplies and uses a predetermined overhead. The CFO has estimated total manufacturing costs to be $108,500, and the activity driver is direct labor hours, which are estimated to be 62,000 hours. The following beginning balances are below: Work in Process Finished Goods $ 19,800 $ 37,100 Calculate the ending balance for Work in Process (WIP)
Note: Always keep track of your work.
Wowza Corporation manufactures party supplies and uses a predetermined overhead.
The CFO has estimated total manufacturing costs to be $108,500, and the activity driver is direct
labor hours, which are estimated to be 62,000 hours.
The following beginning balances are below:
Work in Process
Finished Goods
$
$
19,800
37,100
Prepare this journal entry: Ninety percent of the amount in Finished Goods is transferred to Cost of
Goods Sold.
Transcribed Image Text:Note: Always keep track of your work. Wowza Corporation manufactures party supplies and uses a predetermined overhead. The CFO has estimated total manufacturing costs to be $108,500, and the activity driver is direct labor hours, which are estimated to be 62,000 hours. The following beginning balances are below: Work in Process Finished Goods $ $ 19,800 37,100 Prepare this journal entry: Ninety percent of the amount in Finished Goods is transferred to Cost of Goods Sold.
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