Multiple Choice
On January 1,Jackson,Inc.'s Work-in-Process Inventory account showed a balance of $65,800.During the year,materials requisitioned for use in production amounted to $70,900,of which $67,400 represented direct materials.Factory wages for the period were $209,000 of which $186,600 were for direct labor.Manufacturing overhead is allocated on the basis of 60% of direct labor cost.Actual overhead was $116,340.Jobs costing $353,220 were completed during the year.The December 31 balance in Work-in-Process Inventory is ________.
A) $65,800
B) $319,800
C) $431,760
D) $78,540
Correct Answer:
Verified
Correct Answer:
Verified
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