Fryers Frozen Foods uses a processing costing system. It had a balance in its Work-in-Process account of $60,000 on January 1. During the year, this account was charged with direct materials, direct labour, and manufacturing overhead in the amount of $425,000. The accounting records show that $90,000 of goods were still in production at year end.

Required:

• Calculate the amount and complete the journal entry that should be made on December 31st.