Homework Answers
The correct option is $48,400.
Supporting calculations:
| Number of units in Ending Work-in Process Inventory (a) | 11,000 |
| Materials Per Unit (b) | $3.50 |
| Material cost in Ending Inventory (c = a*b) | $38,500 |
| Labor and Overhead cost per unit (d ) | $1.50 |
| Labor and Overhead cost in Ending Inventory (e = a*d) | $16,500 |
| Percentage of Completion (f) | 60% |
| Completed labor and overhead cost in Ending Inventory (g = e*f) | $9,900 |
| Balance of work-in process inventory (c + g) | $48,400 |
Therefore, balance in work-in process is $48,400.
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