1. Dalton Enterprises, a manufacturing firm specializing in custom products, utilizes a job-order costing system. The following data was provided for the recently concluded financial year:

Beginning Inventories:

• Raw Materials: $40,000
• Work in Process: $19,000
• Projected total manufacturing overhead at the start of the year: $595,000
• Projected direct labor-hours at the start of the year: 35,000 direct labor-hours

Results of Operations:

• Raw materials purchased on credit: $423,000
• Raw materials (all direct) used in production: $420,000
• Direct labor cost: $641,000
• Actual direct labor-hours worked: 33,000 direct labor-hours

Manufacturing Overhead:

• Indirect labor cost: $143,000
• Other manufacturing overhead costs incurred: $531,000
• Total cost of goods manufactured: $1,441,000

What is the ending balance in the Work in Process inventory account?

 

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