Question
On January? 1, Jackson,? Inc.'s work-in?Process Inventory account showed a balance of $65,000. During the? year, materials requisitioned for use in production amounted to $70,700?,
On January? 1, Jackson,? Inc.'s work-in?Process Inventory account showed a balance of $65,000. During the? year, materials requisitioned for use in production amounted to $70,700?, of which $67,200 represented direct materials. Factory wages for the period were $209,000 of which $186,100 were for direct labor. Manufacturing overhead is allocated on the basis of? 60% of direct labor cost. Actual overhead was $116,150. Jobs costing $353,070 were completed during the year. The December 31 balance in Work?in?Process Inventory is? ________.
A.
$65,000
B.
$429,960
C.
$76,890
D.
$318,300
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