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Compute the value of the company work-in-process inventory

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Question - Given

Total manufacturing costs were $1,330,000.

Cost of goods manufactured was $1,296,500.

Applied manufacturing overhead was 30 percent of total manufacturing costs.

Manufacturing overhead was applied to production at a rate of 80 percent of direct-labor cost.

Work-in-process inventory on January 1 was 75 percent of work-in-process inventory on December 31.

Compute the value of the company's work-in-process inventory on December 31.

Reference no: EM131932417

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