Question
Job 101 Job 102 Job 103 Material $2,000,000 $3,000,000 $500,000 Labor 132,000 144,000 36,000 Overhead 550,000 600,000 150,000 $2,682,000 $3,744,000 $686,000 ========= ========= ========= Jobs
Job 101
Job 102
Job 103
Material
$2,000,000
$3,000,000
$500,000
Labor 132,000
144,000
36,000
Overhead
550,000
600,000
150,000
$2,682,000
$3,744,000
$686,000
=========
=========
=========
Job 101 | Job 102 | Job 103 | |
Material | $2,000,000 | $3,000,000 | $500,000 |
| Labor | 132,000 | 144,000 | 36,000 |
Overhead | 550,000 | 600,000 | 150,000 |
$2,682,000 | $3,744,000 | $686,000 | |
========= | ========= | ========= |
Jobs 102 & 103 are completed during the period. Material and overhead are paid upon delivery. Direct labor is paid on the day earned. What is the amount of Work-In-Process Ending Inventory?
| a. | $2,000,000 | |
| b. | $2,132,000 | |
| c. | $2,682,000 | |
| d. | $4,430,000 |
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
10th Canadian edition
978-1259024979
