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FinnZ [79.3K]
4 years ago
14

The Work in Process Inventory account had a beginning balance of $16,200 on April 1. During April, the cost of direct materials

used was $408,000 and direct labor cost assigned to production was $56,000. A total of $72,000 of overhead was assigned to production in April. If the cost of finished goods manufactured was $523,500, what was the balance in the Work in Process Inventory account on April 30?
Business
1 answer:
zhenek [66]4 years ago
4 0

Answer:

$28,700

Explanation:

We know that

Ending work in process inventory = Opening work in process inventory + total manufacturing cost - cost of finished goods manufactured

where,

Total manufacturing cost = cost of direct materials used + direct labor cost + overhead  cost

= $408,000 + $56,000 + $72,000

= $536,000

So, the ending work in process inventory would be

= $16,200 + $536,000 - $523,500

= $28,700

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The incremental costs that can be deduced include the cost for materials, overhead, and labor that are associated with the actual closing process.

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2 years ago
Tristan transfers property with a tax basis of $1,255 and a fair market value of $1,570 to a corporation in exchange for stock w
AlladinOne [14]

Answer: $1531

Explanation:

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4 0
3 years ago
"_____" is the alternative term for "comfort" that is used by the wall street journal as one of the factors to grade jobs.
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3 years ago
Which of the following is not true of taxable asset purchases?
shutvik [7]

Answer:

e. None of the above

Explanation:

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