Dalton Enterprises, a manufacturing firm specializing in custom products, utilizes a job-order costing system. The following data
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- 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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