FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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he icon to vi
work in pro
280
031
231
30
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Additional data:
1. Actual manufacturing overhead for January amounted to $66,100.
2. Total direct labor cost for January was $64,000.
3. The predetermined manufacturing overhead rate is based on direct labor cost.
The budget for the year called for $248,000 of direct labor cost and $322,400 of
manufacturing overhead costs.
4. The only job unfinished on January 31 was Job No. 151, for which total direct
labor charges were $5,600 (1,600 direct labor hours) and total direct material
charges were $14,400.
5. Cost of direct materials placed in production during January totaled $124,000.
There were no indirect material requisitions during January.
6. January 31 balance in raw materials inventory was $35,400.
7. Finished goods inventory balance on January 31 was $35,200.
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Transcribed Image Text:he icon to vi work in pro 280 031 231 30 More info Additional data: 1. Actual manufacturing overhead for January amounted to $66,100. 2. Total direct labor cost for January was $64,000. 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $248,000 of direct labor cost and $322,400 of manufacturing overhead costs. 4. The only job unfinished on January 31 was Job No. 151, for which total direct labor charges were $5,600 (1,600 direct labor hours) and total direct material charges were $14,400. 5. Cost of direct materials placed in production during January totaled $124,000. There were no indirect material requisitions during January. 6. January 31 balance in raw materials inventory was $35,400. 7. Finished goods inventory balance on January 31 was $35,200. Print Done - X
The following account balances at the beginning of January were selected from the general ledger of Fresh Bagel Manufacturing Company:
K
Work in process inventory
$0
Raw materials inventory
Finished goods inventory
$28,800
$40,200
(Click the icon to view additional data.)
What is the work in process inventory balance on January 31?
OA. $27,280
OB. $98,031
OC. $69,231
OD. $7280
CO
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Transcribed Image Text:The following account balances at the beginning of January were selected from the general ledger of Fresh Bagel Manufacturing Company: K Work in process inventory $0 Raw materials inventory Finished goods inventory $28,800 $40,200 (Click the icon to view additional data.) What is the work in process inventory balance on January 31? OA. $27,280 OB. $98,031 OC. $69,231 OD. $7280 CO
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