Ask Question
BusinessBusiness
16 January, 00:52

The accounts of Delphinia Dreams, Inc. showed the following balances at the beginning of October:AccountDebitRaw Materials Inventory$31,000Work-in-Process Inventory40,000Finished Goods Inventory52,000Manufacturing Overhead24,000During the month, direct materials amounting to $22,000 and indirect materials amounting to $5,000 were issued to production. What is the ending balance in the Work-in-Process Inventory account following these two transactions?

+2
Answers (1)
  1. 16 January, 01:04
    0
    Ending WIP = $67,000

    Explanation:

    Giving the following information:

    beginning of October:

    Raw Materials Inventory$31,000

    Work-in-Process Inventory 40,000

    Finished Goods Inventory 52,000

    Manufacturing Overhead24,000

    During the month, direct materials amounting to $22,000 and indirect materials amounting to $5,000 were issued to production.

    Ending WIP = Beginning WIP + direct material + indirect material

    Ending WIP = 40000 + 22000 + 5000 = $67,000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The accounts of Delphinia Dreams, Inc. showed the following balances at the beginning of October:AccountDebitRaw Materials ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Management of Mittel Rhein AG of Köln, Germany, would like to reduce the amount of time between when a customer places an order and when the order is shipped.
Answers (1)
Monetary policy actions by the Fed are Multiple Choice more effective in a restrictive direction than they are in an expansionary direction. more effective in an expansionary direction than they are in a restrictive direction.
Answers (2)
How often should you typically monitor your checking account?
Answers (1)
The Equal Credit Opportunity Act prohibits which of the following? a. Basing the credit decision on unemployment. b. Basing the credit decision on the fact that the applicant was in prison for a felony three years ago. c.
Answers (1)
What is gross wages?
Answers (1)
New Questions in Business
You are given the following information about a portfolio you are to manage. For the long term, you are bullish, but you think the market may fall over the next month. Portfolio Value $ 1 million Portfolio's Beta 0.
Answers (1)
Use the information presented in Northeastern Mutual Bank's balance sheet to answer the following questions.
Answers (1)
In The Wealth of Nations, Adam Smith discussed what has come to be known as the "diamond and water paradox" "Nothing is more useful than water: but it will purchase scarce anything; scarce anything can be had in exchange for it.
Answers (1)
Making adjustments to general ledger accounts is an application of the Matching Expenses with Revenue accounting concept. A. TrueB. False
Answers (1)
You're trying to save to buy a new $210,000 Ferrari. You have $30,000 today that can be invested at your bank. The bank pays 5.0 percent annual interest on its accounts. How long will it be before you have enough to buy the car
Answers (1)
Home » Business » The accounts of Delphinia Dreams, Inc. showed the following balances at the beginning of October:AccountDebitRaw Materials Inventory$31,000Work-in-Process Inventory40,000Finished Goods Inventory52,000Manufacturing Overhead24,000During the month,
Sign Up Forgot Password?