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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?

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  1. 16 January, 01:04
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    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
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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,
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