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Copy of Company P had the following account balances at the beginning of the period: Account Beginning Balance Raw Materials $54,000 Work in Process $89,000
Copy of Company P had the following account balances at the beginning of the period: Account Beginning Balance Raw Materials $54,000 Work in Process $89,000 Finished Goods $74,000 During the period, the following transactions occurred: Purchased raw materials of $100,000 Used $112,000 of raw materials, of which $14,000 were indirect materials Accrued direct labor of $76,000 and indirect labor of $15,000 Applied manufacturing overhead cost to production at a predetermined overhead rate of $2.50 per direct labor hour. A total of 5,000 direct labor hours were used Depreciation of $29,000 was recorded, of which $17,000 related to factory equipment Jobs costing $96,000 were completed and transfer to Finished goods during the period What is the ending balance in Manufacturing Overhead? O $33,500 O $16,500 $46,000 $19,500
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