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The Fabricating Department started the current month with a beginning Work in Process inventory of $11,200. During the month, it was assigned the following costs:
The Fabricating Department started the current month with a beginning Work in Process inventory of $11,200. During the month, it was assigned the following costs: direct materials, $77,200; direct labor, $25,200; and factory overhead, 50% of direct labor cost. Also, inventory with a cost of $115,000 was transferred out of the department to the next phase in the process. The ending balance of the Work in Process Inventory account for the Fabricating Department is:
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$64,400.
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$172,500.
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$113,600.
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$11,200.
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