Answer:
Thus, Work in process inventory (Ending) = $23,840
Explanation:
Below is the Schedule of Cost of Goods Manufactured:
Cost of materials requisitioned = 51,200
Manufacturing overhead applied = 92,640
Direct materials used = 46,700
Indirect materials = 4,500
Direct labor = 77,200
Total manufacturing cost = 216,540
Work in process inventory, beginning = 30,300
Work in process inventory, ending = 23,840
Cost of goods manufactured = 223,000
Applied Manufacturing overhead = Direct labor cost x 120%
= 77,200 x 120%
Applied Manufacturing overhead= $92,640
Cost of manufactured goods = Total manufacturing cost + Work in process inventory (beginning) - Work in process inventory (Ending)
223,000 = 216,540+30,300 - Work in process inventory (Ending)
Work in process inventory (Ending) = (216,540 +30,300) - 223,000
= 246,840 - 223,000
= 23,840
Thus, Work in process inventory (Ending) = $23,840