29) Matthew Company had a beginning WIP inventory balance of $40,000. During the year, $58,000 of direct materials was placed into production. Direct labor was $66,000. Manufacturing overhead is allocated at 120% of direct labor costs. Actual manufacturing overhead was S90,000, and jobs costing S220A00 were completed during the year. What is the ending WIP inventory balance? A) $12,800 B) $26,100 C) $22,800 D) $16,800 E) None of the above 30) Here is some basic data for Company B: Cost of materials purchases on account Cost of materials requisitioned (includes $2,000 of indirect) Direct labor costs incurred Manufacturing overhead costs incurred, including indirect materials $75,000 43,000 75,000 Cost of goods completed Cost of goods sold Beginning raw materials inventory Beginning WIP inventory Beginning finished goods inventory Predetermined manufacturing overhead rate (as % of direct labor cost) 95,000 226,750 138,000 15,000 32,000 31,000 125% The journal entry to record actual manufacturing overhead costs includes a: A) credit to manufacturing overhead for $93,750. B) credit to WIP inventory for $95,000. C) debit to WIP inventory for $93,750. D) debit to manufacturing overhead for $105,000 E) debit to manufacturing overhead for $95,000