Answer:
$78,540
Explanation:
Given that,
Beginning balance = $65,800
Direct material = $67,400
Direct labor = $186,600
Transfer to finished goods inventory = $353,220
December 31 balance in work-in-process inventory:
= Beginning balance + Direct material + Direct labor + Manufacturing overhead - Transfer to finished goods inventory
= $65,800 + $67,400 + $186,600 + (60% × $186,600) - $353,220
= $65,800 + $67,400 + $186,600 + $111,960 - $353,220
= $78,540