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Calculate the work in process inventory at december

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Question - Farber Corporation uses a job-order costing system. The information below is from the financial records of the company for last year:

Total manufacturing costs $2,500,000

Cost of goods manufactured $2,425,000

Predetermined overhead rate 80% of direct labor cost

Applied overhead was 30% of total manufacturing costs. The Work in Process inventory at January 1 was 75% of the Work in Process inventory at December 31.

Calculate the Work in Process inventory at December 31?

Reference no: EM132068049

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