The Fabricating Department started the current month with a beginning Work in Pr

Question

The Fabricating Department started the current month with a beginning Work in Process inventory of $10,500. During the month, it was assigned the following costs: direct rmaterials, $76,500; direct labor, $24.500, and factory overhead, 60% of direct labor cost Also, inventory with a cost of $111,500 was transferred out of the department to the next phase in the process. The ending balance of the Work in Process Inventory account for the Fabricating Department is 8 oss 015811 Multiple Choice $69,420 $14,700 $63,700 $180,920. $111,500

Explanation / Answer

21.

Option B is correct. ($14700)

Ending WIP = 10500+4200

= 14700

22.

Option D is correct.

Finished units transferrred = 19000+170000

= 189000

23.

Option E is correct. (Activities)

Activity based costing allocates cost according to the activity.

24.

Option A is correct.

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