Homework Answers
Answer: $450,000, $470,000
.
| Working note | |
| Direct Materials used | $180,000 |
| Direct Labor | $110,000 |
| Manufacturing Overhead | $160,000 |
| Total Manufacturing Costs [$180,000 + $110,000 + $160,000] | $450,000 |
| Plus: Beginning work-in-progress | $40,000 |
| Total Cost of Work in Process [$450,000 + $40,000] | $490,000 |
| Minus: Beginning work-in-progress | $20,000 |
| Cost of Goods Manufatured [$490,000 - $20,000] | $470,000 |
.
.
Question 9
Answer: $160,000
.
Ending Work-In-Process inventory
= Beginning work-in-process inventory + Total manufacturing costs – Cost of Goods Manufactured
= $134,000 + $686,000 – $660,000
= $160,000
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