Question
The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following information has been obtained from a separate set of
The financial records for the Harrison Manufacturing Company have been destroyed in a fire. The following information has been obtained from a separate set of books maintained by the cost accountant. The cost accountant now asks for your assistance in computing the missing amounts.
| Direct Materials Inventory | |||
| Beg. Bal. | 9,900 | ? | Transferred Out |
| Purchases | ? | ||
| End. Bal. | 8,300 | ||
| Cost of Goods Sold | |||
| 76,000 | |||
| Work-in-Process Inventory | |||
| Beg. Bal. | 9,400 | ? | Transferred Out |
| Materials | 21,800 | ||
| Labor | 15,400 | ||
| Overhead | 9,900 | ||
| End. Bal. | ? | ||
| Finished Goods Inventory | |||
| Beg. Bal. | ? | ? | Transferred Out |
| Transferred in | 41,400 | ||
| End. Bal. | 6,100 | ||
What is the value of the ending Work-in-Process inventory balance?
Multiple Choice
$0.
$6,100.
$15,100.
$9,900.
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
Auditing Mantras Forensic Accounting Important Standards On Auditing
Authors: Buffy Mielcarek
1st Edition
B09PP4SKL1, 979-8796281437
