Question

The accounts of Melissa Manufacturing showed the following balances at the beginning of December: Account Debit Raw Materials Inventory $59,000 Work-in-Process Inventory 75,000 Finished Goods Inventory 30,000 Manufacturing Overhead 24,000 The following transactions took place during the month: December 2: Issued direct materials $39,000 and indirect materials $6000 to production. December 15: Incurred $5000 and $4000 toward factory's direct labor cost and indirect labor cost, respectively. What should be the balance in the Work-in-Process Inventory following these transactions

Answer 1

Answer:

$120,000

Explanation:

Calculation to determine What should be the balance in the Work-in-Process Inventory following these transactions

Beginning balance in WIP $75,000

Add: Direct materials transferred $39,000

Direct factory labor cost $6,000

Ending balance $120,000

($75,000+$39,000+$6,000)

Therefore What should be the balance in the Work-in-Process Inventory following these transactions is $120,000