Answered step by step
Verified Expert Solution
Question
1 Approved Answer
On January 1, Biden, Inc.'s Work - in - Process Inventory account had a balance of $31,900. During the year, $58,500 of direct materials were
On January 1, Biden, Inc.'s Work - in - Process Inventory account had a balance of $31,900. During the year, $58,500 of direct materials were placed into production Manufacturing wages incurred amounted to $84,500, of which $65,000 were for direct labor. Manufacturing overhead is allocated on the basis of 120% of direct labor cost. Actual manufacturing overhead was $90,900. Jobs costing $220,600 were completed during the year. What is the December 31 balance of Work -in - Process Inventory? ... O A. $12,800 O B. $233,400 O C. $31,900 OD. $155,400
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started