Question

Dagostino Corporation uses a job-order costing system. The following data relate to the just completed month's operations. (1) Direct materials requisitioned for use in production, $154,000 (2) Indirect materials requisitioned for use in production, $45,000 (3) Direct labor wages incurred, $94,000 (4) Indirect labor wages incurred, $119,000 (5) Depreciation recorded on factory equipment, $44,000 (6) Additional manufacturing overhead costs incurred, $83,000 (7) Manufacturing overhead costs applied to jobs, $236,000 (8) Cost of jobs completed and transferred from Work in Process to Finished Goods, $458,000 Use the following T-accounts to answer the following questions Work In Process Bal.$48,000 Manufacturing Overhead The ending balance in the Work in Process account is closest to: Multiple Choice $94,000 $84,000 $64,000 $74,000

Answer 1

Answer:

$74,000

Explanation:

The computation of the ending balance in the Work in Process account is shown below:

= Beginning balance in work in process + direct material + direct labor + manufacturing overhead applied - jobs completed and transferred

= $48,000 + $154,000 + $94,000 + $236,000 - $458,000

= $74,000

We simply applied the above formula