46. (Simple inventory calculation) Production data for the first week in November 2002 for Illinois Lighting were as follows:

WORK IN PROCESS INVENTORY Job No. Material Labor Machine Time (Overhead)

Nov. 1 411 $950 18 hours 25 hours 1 412 620 5 hours 15 hours 7 417 310 4 hours 8 hours Finished Goods Inventory, Nov. 1: $11,900 Finished Goods Inventory, Nov. 7: $ 0 MATERIAL RECORDS Inv. 11/1 Purchases Issuances Inv. 11/7 Aluminum $4,150 $49,150 $29,350 $ ?

Steel 6,400 13,250 17,100 $ ?

Other 2,900 11,775 12,950 $ ?

Direct labor hours worked: 340. Labor cost is $15 per direct labor hour. Machine hours worked: 600; Job #411, 175 hours; Job #412, 240 hours; and Job

#417, 185 hours.

Overhead for first week in November:

Depreciation $ 4,500 Supervisor salaries 7,200 Indirect labor 4,175 Insurance 1,400 Utilities 1,125 Total $18,400 Overhead is charged to production at a rate of $30 per machine hour. Underapplied or overapplied overhead is treated as an adjustment to Cost of Goods Sold at year-end. (All company jobs are consecutively numbered, and all work not in ending Finished Goods Inventory has been completed and sold.)

a. Calculate the value of beginning Work in Process Inventory.

b. What is the value at the end of November of (1) the three material accounts,

(2) Work in Process Inventory, and (3) Cost of Goods Sold?