Penn Manufacturing Corporation uses a process-costing system to manufacture printers for PCs. The following information summarizes operations

Question:

Penn Manufacturing uses a process-costing system to manufacture printers for PCs. The following information summarizes operations for its NoToner model during the quarter ending September 30, Year 1:
Units Direct Labor
Work-in-process inventory, July 1................100..................$ 50,000
Started during the quarter...........................500
Completed during the quarter......................400
Work-in-process inventory, September 30........200
Costs added during the quarter.........................................$775,000
Beginning work-in-process inventory was 50% complete for direct labor. Ending work-in-process inventory was 75% complete for direct labor. What is the total value of the direct labor in the ending work-in-process inventory using the weighted-average method?
1. $183,000
2. $194,000
3. $225,000
4. $210,000
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...