Answer:
The cost of ending work in progress is $135,000
Step-by-step explanation:
In this question, we are asked to calculate the cost of the ending work in process inventory.
We apply a mathematical approach to this question.
Mathematically,
Cost of goods = -ending work in progress +beginning work in progress inventory + total manufacturing costs
From the question, we identify the following;
Ending work in progress =? Let’s say x
Beginning work in progress inventory = $138,000
Total manufacturing costs = $477,000
Cost of goods = $480,000
Imputing this in the equation, we have;
480,000 = -x + 138,000 + 477,000
x = 138,000 + 477,000 -480,000 = 135,000
The cost of ending work in progress is $135,000
Answer: $135,000
Step-by-step explanation:
Given the following ;
Beginning work in process inventory =$138,000
Total manufacturing cost = $477,000
Cost of goods manufactured = $480,000
Cost of Ending work in process inventory =?
USING THE RELATION:
Cost of goods sold = Beginning work in process inventory + Total manufacturing cost - Ending work in process inventory
$480,000 = $138,000 + $477,000 - Ending work in process inventory
Ending work in process inventory = $615,000 - $480,000 = $135,000
