The following events took place at a manufacturing company for the current year:
(1) Pur...
Business, 14.04.2020 19:25 helpmeplz33
The following events took place at a manufacturing company for the current year:
(1) Purchased $97,000 in direct materials.
(2) Incurred labor costs as follows: (a) direct, $58,000 and (b) indirect, $15,600.
(3) Other manufacturing overhead was $109,000, excluding indirect labor.
(4) Transferred 80% of the materials to the manufacturing assembly line.
(5) Completed 65% of the Work-in-Process during the year.
(6) Sold 85% of the completed goods.
(7) There were no beginning inventories.
What is the value of the ending Work-in-Process Inventory?
Answers: 3
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