Homework Answers
Answer :- Calculation of balance in work in process Inventory at the end of the year :-
Work in process Inventory at the end :-
= Beginning work in process Inventory + Direct material + Direct labor + Manufacturing overhead - Cost of goods manufactured
= $29,700 + $46,500 + $77,000 + ($77,000 *130%) - $223,000
= $29,700 + $46,500 + $77,000 + $100,100 - $223,000
= $30,300
So the Ending Work in process Inventory is $30,300. Therefore the correct answer is option A. ( $30,300).
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