mathxlcom Taike a Test- Mariajose Unit 3: Anual Report A Corporation Has 4,00 AC

Question

mathxlcom Taike a Test- Mariajose Unit 3: Anual Report A Corporation Has 4,00 ACC 221-N02 Fall 2017 Test: Test Chapters 17 18 19 This Question: 1 pt 15 of 48 (1400m plete) The accounts of Melissa Manufacturing showed the following balances at the beginning of December Account Raw Materials inventory Debt $56,000 76,000 36,000 19,000 Work-in-Process Inventory Finished Goods Inventory Manufacturing Overhead The following transactions took place during the month December 2: Issued direct materials $23,000 and indirect materials $6,000 to production. December 15: Incurred $6,000 and $4,000 toward factory's direct labor cost and indirect labor cost, respectively What should be the balance in the Work-in-Process Inventory folowing these transactions? OA. $59,000 B. S82000 OC. $105.000 O D. $80,000 Cick to select your answer

Explanation / Answer

The answer for the above question will be option C.$105,000 which is the sum of opening wip I.e, 76,000+23,000+6,000 of direct and indirect material issued for production as there was no information related to goods produced at the end of month was available hence the entire amount is considered to be the balance in work in process at the month end.

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