Gulick Company developed the following data for the current year: Beginning work in process inventory $240,000 Direct materials used 144,000 Actual overhead 288,000 Overhead applied 216,000 Cost of goods manufactured 264,000 Total manufacturing costs 720,000 Gulick Company's ending work in process inventory is: a. $696,000. b. $216,000. c. $456,000. d. $480,000.

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter5: Process Costing
Section: Chapter Questions
Problem 5EA: A company has 1,500 units in ending work in process that are 30% complete after transferring out...
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Gulick Company developed the following data for the
current year:
Beginning work in process inventory $240,000
Direct materials used
144,000
Actual overhead
288,000
Overhead applied
216,000
Cost of goods manufactured
264,000
Total manufacturing costs
720,000
Gulick Company's ending work in process inventory is:
a. $696,000.
b. $216,000.
c. $456,000.
d. $480,000.
Transcribed Image Text:Gulick Company developed the following data for the current year: Beginning work in process inventory $240,000 Direct materials used 144,000 Actual overhead 288,000 Overhead applied 216,000 Cost of goods manufactured 264,000 Total manufacturing costs 720,000 Gulick Company's ending work in process inventory is: a. $696,000. b. $216,000. c. $456,000. d. $480,000.
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