The accounts of Melissa Manufacturing showed the following balances at the beginning of December: Account Debit $56,000 Raw Materials Inventory Nork - in - Process Inventory Finished Goods Inventory Manufacturing Overhead 75,000 32,000 20,000 The following transactions took place during the month: December 2: Issued direct materials $34,000 and indirect materials $6,000 to production. December 15: Incurred $6,000 and $3,000 toward factory's direct labor cost and indirect labor cost, respectively. What should be the balance in the Work - in - Process Inventory following these transactions?

The accounts of Melissa Manufacturing showed the following balances at the beginning of December: Account Debit $56,000 Raw Materials Inventory Nork - in - Process Inventory Finished Goods Inventory Manufacturing Overhead 75,000 32,000 20,000 The following transactions took place during the month: December 2: Issued direct materials $34,000 and indirect materials $6,000 to production. December 15: Incurred $6,000 and $3,000 toward factory's direct labor cost and indirect labor cost, respectively. What should be the balance in the Work - in - Process Inventory following these transactions?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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