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In the Monroe Company, the following Job cards were totaled at the end of the month:...

In the Monroe Company, the following Job cards were totaled at the end of the month:

Job 243 $5,750
Job 244 $4,980
Job 245 $3,675
Job 246 $4,250
Job 247 $5,100
Job 248 $3,800


Jobs 243 and 244 were in Finished Goods Inventory at the beginning of the month. Jobs 245 and 246 were in Work-in-process at the beginning of the month. Jobs 247 and 248 were started during the month. At the end of the month, Jobs 243 and 247 were sent to customers; jobs 245, 247, and 248 were completed and sent to finished goods.
What is the ending work-in-process inventory for the month?

a.$4,250

b.$10,730

c.$12,575

d.None of these choices are correct.

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Answer #1

Correct answer---------(a) $4,250

The only job in Work in process at the end of month was Job 246 which cost $4250.

All other jobs are either completed or sold.

Job No
243 244 245 246 247 248
Status at beginning Finished Finished WIP WIP
Status during the period Sold Started and completed Started
Status at ending Sold Finished Finished WIP Sold Finished
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