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Here are selected data for King Friday Corporation: Beginning raw materials inventory $37,000 Beginning work in...

Here are selected data for King Friday Corporation:

Beginning raw materials inventory

$37,000

Beginning work in process inventory

$61,600

Beginning finished goods inventory

$56,300

Cost of materials purchased

$151,000

Cost of direct materials requisitioned

$91,800

Direct labor incurred

$125,000

Actual manufacturing overhead

$160,000

Cost of goods manufactured

$287,500

Cost of goods sold

$265,000

Predetermined Manufacturing overhead rate (% of direct labor)

125%

What is the ending work in process inventory balance?

A.

​$220,300

B.

​$201,950

C.

​$147,150

D.

​$211,600

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Answer #1

Closing raw material = opening + purchase - transfer

= $37000 + 151000 - 91800 = $96,200

Work in process = Beginning wip + Raw material + direct labor + manufacturing overhead - cost of goods manufactured

= $61600 + 91800 + 125000 + 156250 - 287500

= $147150

Option C is correct answer.

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