Check my work Exercise 15-12 Analyzing of costs assigned to work in process LO P3 Lorenzo Company applies overhead to jobs on the basis of direct materials cost. At year-end, the Work in Process Inventory account shows the following. Work in Process Inventory Date Explanation Debit Credit Balance Direct Dec. 31 materials 1,500,000 1,500,000 cost Direct 21 259 aaa 1 750 aaa