The following information was taken from the accounting records of Reliable Tool Corporation: Work in process inventory, beginning of the year - $35,000 Cost of direct materials used - 260,000 Direct labor cost applied to production - 150,000 Cost of finished goods manufactured - 707,750 Overhead is assigned to production at $300,000. Compute the amount of the work in process inventory on hand at year-end.
The following information was taken from the accounting records of Reliable Tool Corporation: Work in process inventory, beginning of the year - $35,000 Cost of direct materials used - 260,000 Direct labor cost applied to production - 150,000 Cost of finished goods manufactured - 707,750 Overhead is assigned to production at $300,000. Compute the amount of the work in process inventory on hand at year-end.
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 6PA: During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of...
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![The following information was taken from the
accounting records of Reliable Tool Corporation:
Work in process inventory, beginning of the year -
$35,000
Cost of direct materials used - 260,000
Direct labor cost applied to production - 150,000
Cost of finished goods manufactured - 707,750
Overhead is assigned to production at $300,000.
Compute the amount of the work in process inventory
on hand at year-end.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcb6579c7-73d1-4ab9-9ed7-fb658663437c%2F6fb5445e-6c0f-4c96-8089-0b2112680506%2Fdnvmgy8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following information was taken from the
accounting records of Reliable Tool Corporation:
Work in process inventory, beginning of the year -
$35,000
Cost of direct materials used - 260,000
Direct labor cost applied to production - 150,000
Cost of finished goods manufactured - 707,750
Overhead is assigned to production at $300,000.
Compute the amount of the work in process inventory
on hand at year-end.
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