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Question 1
Zulfiqar Inc. has provided the following data for the month of September. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing
|
Work in Process |
Finished Goods |
Cost of Goods Sold |
Total |
Direct materials |
4,020 |
12,810 |
22,890 |
39,720 |
Direct labor |
4,760 |
17,080 |
30,520 |
52,360 |
Manufacturing overhead applied |
3,220 |
7,130 |
12,650 |
23,000 |
Total |
12,000 |
37,020 |
66,060 |
115,080 |
Manufacturing overhead for the month was underapplied by Rs. 4,000.
The company allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the overhead applied during the month in those accounts.
Calculate amount of work in process inventory at the end of September after allocation of any underapplied or overapplied manufacturing overhead for the month?

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