What the ending balance of the work in process inventory

Assignment Help Accounting Basics
Reference no: EM133036343

Problem - The Fabricating Department started the current month with a beginning Work in Process inventory of $11,400. During the month, it was assigned the following costs: direct materials, $77,400; direct labor, $25,400; and factory overhead, 70% of direct labor cost. Also, inventory with a cost of $116,000 was transferred out of the department to the next phase in the process. What the ending balance of the Work in Process Inventory account for the Fabricating Department?

Reference no: EM133036343

Questions Cloud

What is a service blueprint : What is a Service Blueprint? Explain how the Service Blueprint can be applied to an international brand such as the Sofitel to improve their operations.
What was the original amount of the mortgage : Question - Jimmy paid off a mortgage by paying $800 per month for 10 years. What was the original amount of the mortgage
Remedial roadmap to alter sub-standard personnel performance : Please discuss (compare/contrast not merely define) each of these learning modalities and provide three (3) examples for each modality
What is the equivalent annual saving from the purchase : The opportunity cost of capital is 11%, and the firm's tax rate is 21%. What is the equivalent annual saving from the purchase
What the ending balance of the work in process inventory : During the month, it was assigned the following costs: direct materials, $77,400; What the ending balance of the Work in Process Inventory
Demonstrating the synthesis : Create multiple flow charts demonstrating the synthesis of the information of the two articles for your Synthesis Essay.
Federal system of governance and unitary system : Differentiate clearly between a federal system of governance and a unitary system. Make sure you use examples in your answer.
Review the model code of ethics for educators : Locate and review your state's professional educator code of ethics. Review the Model Code of Ethics for Educators (MCEE).
Difference between the trial balance and balance sheet : What is the primary difference between the trial balance and balance sheet? What is double-entry bookkeeping? Explain nominal accounts with example

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate the potential loss to the corporation

Quality Motors currently purchases a standard unit car stereo from an outside supplier for $80. Calculate the potential loss to the corporation

  Contrast the effects of the three depreciation methods

Contrast the effects of the three depreciation methods on annual depreciation expense.

  What should dave suggest to his fellow partners in the firm

What should Dave suggest to his fellow partners in the firm and why? Can Dave justify the loss of business as a right decision in view of firm goals?

  Determine philips taxable income

During the year, he earns gross revenues of $49,000 and incurs $6,000 of business expenses. His itemized deductions for the year are $7,000. Determine Philip's taxable income and his total tax liability (Self-employment and regular tax.)

  What is his selling price

Tex has a small plant that produces storm windows. Its total revenue function is TR = 5.4Q, What is his selling price

  Explain how materiality is defined by both fasb and iasb

The concepts statements provide several examples in which specific quantitative materiality guidelines are provided to firms

  Determine cash collections in the given case

Kennewick Corp. had a beginning balance in accounts receivable of $70,000 and an ending balance of $91,000. Credit sales during the period were $598,000.

  Different types of the accounting inventory methods

Accounting Inventory Methods - How do the different types of the Accounting Inventory Methods (FIFO, LIFO, or Weighted-Average) operate

  Find the maximum amount you would be interested

Find the maximum amount you would be interested to invest for this opportunity

  What amount should be reported as income from discontinued

What amount should be reported as income from the discontinued segment for 2020? Lann Company approved a formal plan to sell a business segment.

  What gain or loss does deirdre recognize on the sale

Deirdre sold 100 shares of stock to her brother, James, for $2,400. Deirdre purchased the stock several years ago for $3,000.

  How much is cost of goods sold

Mathew Company provided the following data concerning its income statement: sales, $1,000,000; purchases, $400,000; How much is cost of goods sold

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd