cost of materials purchases on account 76000 cost of direct materials requisitio

ID: 2376506 • Letter: C

Question

cost of materials purchases on account 76000

cost of direct materials requisitioned 49000

cost of indirect materials requisitioned 3000

direct labor costs incurred 92000

Manufactring overhead cost incurred including indirect materials 97500

cost of good manufactured 2400000

cost of goods sold 151000

beginning raw materials inventory 14500

begin work in process inventory 39700

beginning finished goods inventory 32800

predeterminded manufacturing overhead eate 120%

What is the balance in work in process inventory at the end of

the year?

THE ANSWER IS ( 51100)

I want to know how to do it setp by step thank you.

Hi,

Please find the answer as follows:

Cost of Goods Manufactured = Total Manufacturing Cost + Opening Work in Progress - Closing Work in Process

240000 = 251400 + 39700 - Closing Working in Process

Closing/Ending Working in Process = 291100 - 240000 = 51100

Thanks.

Direct Material Requistioned 49000 Direct Labor 92000 Total Manufacturing Overhead (92000*120%) 110400 Total Manufacturing Cost 251400

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