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The accounting staff at Valencia Manufacturing, Incorporated has provided the following data for the month of July. The balance in the Work in Process Inventory
The accounting staff at Valencia Manufacturing, Incorporated has provided the following data for the month of July. The balance in the Work in Process Inventory account was $32,000 at the beginning of the month and $22,000 at the end of the month. During the month, the Corporation incurred direct materials cost of $57,000 and direct labor cost of $31,000. The actual manufacturing overhead cost incurred was $54,000. The manufacturing overhead cost applied to Work in Process was $53,000. The cost of goods manufactured for July was: Multiple Choice $152.000 $142,000. $141,000 $151,000
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