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Author Question: Whirl 'n Twirl Corporation uses a job costing system. On January 1, Whirl 'n Twirl Corporation's ... (Read 133 times)

rosent76

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Whirl 'n Twirl Corporation uses a job costing system. On January 1, Whirl 'n Twirl Corporation's work in process inventory account had a balance of $62,000. During the year, materials requisitioned for use in production amounted to $110,000, of which $79,000 represented direct materials. Factory wages for the period were $242,000, of which $199,000 were for direct labour. Manufacturing overhead is allocated on the basis of 80% of direct labour cost. Actual overhead cost for the year was $125,000. Jobs costing $350,000 were completed during the year.

The December 31 work in process inventory balance is
◦ $149,200.
◦ $115,000.
◦ $403,000.
◦ $158,000.


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Marked as best answer by rosent76 on Jan 4, 2020

amandalm

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rosent76

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Reply 2 on: Jan 4, 2020
YES! Correct, THANKS for helping me on my review


bigsis44

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Reply 3 on: Yesterday
Gracias!

 

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