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The Fabricating Department started the current month with a beginning Work in Process inventory of $10,000

The Fabricating Department started the current month with a beginning Work in Process inventory of $10,000. During the month, it was assigned the following costs: direct materials, $76,000 ; direct labor, $24,000; and factory overhead, 50 %of direct labor cost. Also, inventory with a cost of $109,000 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: A) $13,000.

B) $56,000.

C) $59,000.

D) $110,000.

E) $165,000.

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Answer #1

Answer 7) Option A ($13,000)

Explanation:

Opening Balance : 10,000

Add: Direct Materials : 76,000

Add : Direct Labor : 24,000

Add: Factory Overheads : 12,000 (50% of labor cost)

Less : Work Transferred :(109,000)

Ending Balance : 13,000

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