Problem 4. Wayland Manufacturing uses a normal cost system and had the following data available for 2010: Direct materials purchased on account $ 148,000 Direct materials requisitioned 82,000 Direct labor cost incurred 130,000 Factory overhead incurred 146,000 Cost of goods completed 292,000 Cost of goods sold 256,000 Beginning direct materials inventory 26,000 Beginning WIP inventory 64,000 Beginning nished goods inventory 58,000 Overhead application rate, as a percent of direct-labor costs 125 percent The ending balance of work-inprocess inventory is A) $438,500 B) $146,500 C) $ 1 30,000 D) $422,000