The Work in Process Inventory account for DG Manufacturing follows. Compute the cost of jobs completed and transferred to Finished Goods Inventory. Work in Process Inventory Beginning WIP6,100 Direct materials48,700 Direct labor31,200 Applied overhead17,400 Total Mfg. costs103,400 To finished goods ?Ending WIP12,100 The cost of jobs transferred to finished goods is:

Definition: Cost: The amount paid to purchase the asset, install it, and put it into operations, is…

Answered: The Work in Process Inventory account…

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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The Work in Process Inventory account for DG Manufacturing follows. Compute the cost of jobs completed and transferred to Finished Goods Inventory.

Work in Process Inventory
Beginning WIP	6,100
Direct materials	48,700
Direct labor	31,200
Applied overhead	17,400
Total Mfg. costs	103,400
To finished goods		?
Ending WIP	12,100

The cost of jobs transferred to finished goods is:

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