calculate work-in-process inventory: Purchased direct materials = $125,000 Direct Labor costs = 75,000 indirect labor costs = 25,000 other manufacturing overhead (excluding indirect labor) = 115,000 transferred materials = 40% completed work-in-progress = 60% completed goods sold = 55% beginning inventor = 0

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To calculate the workinprocess WIP inventory we need to consider the costs incurred in the productio... View the full answer