What is the ending balance of the goods in process inventory

Reference no: EM131908704

Problem

The Machining Department started the current month with a beginning goods in process inventory of $15,625. During the month, it was assigned the following costs: direct materials, $78,097; direct labor, $27,110; and factory overhead, 42% of direct labor cost. Also, inventory with a cost of $99,028 was transferred out of the department to the next phase in the process. What is the ending balance of the Goods in Process Inventory account for the Machining Department?

Reference no: EM131908704

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