The Accountant for Whirly Manufacturing Inc The Beginning Inventory Was 60% Complete for Materials and 20

The accountant for Whirly Manufacturing Inc. gathered the following information for the month of November: $$\begin{array} { l c } \text { Beginning WIP } & 16,000 \text { units } \\\text { Started production } & 100,000 \\\text { Completed production } & 92,000 \\\text { Ending WIP } & 24,000\end{array}$$ The beginning inventory was 60% complete for materials and 20% complete for conversion costs. The ending inventory was 90% complete for materials and 40% complete for conversion costs.
Costs pertaining to the month of November are as follows:
Beginning inventory costs are: $$\begin{array} { l r } \text { Materials } & \$ 54,560 \\\text { Direct labour } & 20,320 \\\text { Factory overhead } & 15,240 \\\text { Costs incurred during November include: } \\\text { Materials } & \$ 468,000 \\\text { Direct labour } & 182,880 \\\text { Factory overhead } & 391,160\end{array}$$
Using the FIFO method, the total cost of units in the ending work in process inventory on November 30 is:

A) $153,168
B) $154,800
C) $155,328
D) $156,960

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free