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On January 1, Jackson, Inc.'s Work-in-Process Inventory account showed a balance of $65,400. During the year, materials requisitioned for use in production amounted to
On January 1, Jackson, Inc.'s Work-in-Process Inventory account showed a balance of $65,400. During the year, materials requisitioned for use in production amounted to $70,500. of which $66,100 represented direct materials. Factory wages for the period were $208,000 of which $186,500 were for direct labor. Manufacturing overhead is allocated on the basis of 60% of direct labor cost. Actual overhead was $116, 100. Jobs costing $353.220 were completed during the year. The December 31 balance in Work-in-Process Inventory is A. $76.680 B. $85.400 C. $429.900 D. $318,000
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