3 Harrison Ford Company uses a job-order costsystem and had the following data available f1998.Direct materials purchased on accountDirect materials requisitionedDirect labor cost incurredFactory overhead incurredCost of goods completedCost of goods soldBeginning direct materials inventoryBeginning work in process inventoryBeginning finished goods inventoryOverhead application rate (as a percent ofdirect labor cost)The ending inventory of work in process is:a. $219,250b. $73,250c. $65,000d. $211,000$74,000$41,000$65,000$73,000$146,000$128,000$13,000$32,000$29,000125%

The monetary value of goods remaining at the end of the year with a company is called ending…

Answered: The ending inventory of work in process…

Business

Economics

The ending inventory of work in process is: a. $219,250 b. $73,250 $65.000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Harrison Ford Company uses a job-order cost
system and had the following data available f
1998.
Direct materials purchased on account
Direct materials requisitioned
Direct labor cost incurred
Factory overhead incurred
Cost of goods completed
Cost of goods sold
Beginning direct materials inventory
Beginning work in process inventory
Beginning finished goods inventory
Overhead application rate (as a percent of
direct labor cost)
The ending inventory of work in process is:
a. $219,250
b. $73,250
c. $65,000
d. $211,000
$74,000
$41,000
$65,000
$73,000
$146,000
$128,000
$13,000
$32,000
$29,000
125%

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