Wilson Manufacturing had a beginning work in process inventory balance of $48,000. During the year, $105,000 of direct materials were placed into production. Direct labor was $78,000, and indirect labor was $26,000. Manufacturing overhead is allocated at 140% of direct labor costs. Actual manufacturing overhead was $115,000, and jobs costing $295,000 were completed during the year. What is the ending work in process inventory balance?

Wilson Manufacturing had a beginning work in process inventory balance of $48,000. During the year, $105,000 of direct materials were placed into production. Direct labor was $78,000, and indirect labor was $26,000. Manufacturing overhead is allocated at 140% of direct labor costs. Actual manufacturing overhead was $115,000, and jobs costing $295,000 were completed during the year. What is the ending work in process inventory balance?

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 21E: Ellerson Company provided the following information for the last calendar year: During the year,...

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