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3 years ago

Carolina Plating Company reported a cost of goods manufactured of $520,000, with the firm's yearend

Business

1 answer:

Lorico [155]3 years ago

5 0

Answer:

The correct anwer is A.

Explanation:

Giving the following information:

Cost of goods manufactured= $520,000

Ending work in process= $70,000

Raw materials used in the production of $80,000

Direct labor= $140,000

Allocated manufacturing overhead of $240,000

To calculate the beginning work in process, we need to use the following formula:

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

520,000= beginning WIP + 80,000 + 140,000 + 240,000 - 70,000

beginning WIP= 130,000

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Download xlsx

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