The following is selected financial data from Courtney Manufacturing for the most recent year. Ending raw materials inventory $21,500 Ending work in process inventory $44,400 Ending finished goods inventory $53,300 Amount of underallocated manufacturing overhead $5600 Cost of goods sold for year $85,100 Cost of raw materials purchased during year $45,500 Cost of direct materials requisitioned during year $44,800 Cost of indirect materials requisitioned during year $8100 Cost of goods completed during year $120,900 Manufacturing overhead allocated $60,000 Manufacturing overhead % of direct labor cost 135% What is the beginning work in process inventory? (The company uses normal costing)

Question

Pansy

Business

13 August, 13:43

The following is selected financial data from Courtney Manufacturing for the most recent year. Ending raw materials inventory $21,500 Ending work in process inventory $44,400 Ending finished goods inventory $53,300 Amount of underallocated manufacturing overhead $5600 Cost of goods sold for year $85,100 Cost of raw materials purchased during year $45,500 Cost of direct materials requisitioned during year $44,800 Cost of indirect materials requisitioned during year $8100 Cost of goods completed during year $120,900 Manufacturing overhead allocated $60,000 Manufacturing overhead % of direct labor cost 135% What is the beginning work in process inventory? (The company uses normal costing)

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Answers (1)

Know the Answer?

Madelynn Sanford · Answer 1

The answer is $28,900

Explanation:

Solution

From the given question, we find beginning work in process inventory

Given That:

Beginning inventory of raw material = Direct material requisitioned + Indirect material + ending inventory of raw material - raw material purchased.

Thus,

$44,800 + $8100 + $21,500-$45,500

= $28,900

Therefore, The work process inventory in the beginning is $28,900