Question: 27- On January 1, Biden, Inc.'s Work -in - Process Inventory account had a balance of $32,000. During the year, $58,800 of direct materials was

27-

27- On January 1, Biden, Inc.'s Work -in - Process Inventory account

On January 1, Biden, Inc.'s Work -in - Process Inventory account had a balance of $32,000. During the year, $58,800 of direct materials was placed into production. Manufacturing wages incurred amounted to $84,000, of which $64,500 were for direct labor. Manufacturing overhead is allocated on the basis of 120% of direct labor cost. Actual manufacturing overhead was $90,600. Jobs costing $220,700 were completed during the year. What is the December 31 balance of Work in - Process Inventory? A. $12,000 B. $232,700 C. $32,000 D. $155,300

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