Answer the following 4 questions. Each question carries 5 points. 1) The accounts of Delphinia Dreams Inc. showed the following balances at the beginning of October: Account Debit Raw Materials Inventory $50,000 Work-in-Process Inventory 50,000 Finished Goods Inventory 30,000 Manufacturing Overhead 40,000 During the month, indirect materials amounting to $20,000 and direct materials amounting to $5,000 was issued to production. What is the ending balance in the Work in Process Inventory account for the month of October? Solution