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Reedy Company reports the following information for 2012:
Cost of goods manufactured $69,500
Direct materials used 27,000
Direct labor incurred 25,000
Work in process inventory, January 1, 2012 11,000
Factory overhead is 75% of the cost of direct labor. Work in process inventory on December 31, 2012, is:_________
a) 13,500
b) 10,200
c) 22,500
d) 12,250

Respuesta :

hyderali230

Answer:

d) 12,250

Explanation:

Cost of Goods Manufactured = Direct Material cost + Direct labor cost + Factory overhead + Beginning Work in process - Ending work in process

$69,500 = $27,000 + $25,000 + ($25,000 x 75%) + $11,000 - Work in on December 31, 2012

$69,500 = $27,000 + $25,000 + $18,750 + $11,000 - Work in on December 31, 2012

$69,500 = $82,750 - Work in on December 31, 2012

Work in on December 31, 2012 = $81,750 - $69,500

Work in on December 31, 2012 = $12,250

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