Selected ledger accounts for Realm Company are given below for the just-completed year: Bal. 1/1 Debits....

 

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Selected ledger accounts for Realm Company are given below for the just-completed year: Bal. 1/1 Debits. Bal. 31/12 Debits Debits Bal. 1/1 Direct materials. Direct labour Overhead Bal. 31/12 Raw Materials 38,000 Credits 460,000 76,000 Manufacturing Overhead 403,400 Credits Bal. 1/1 Debits Bal. 31/12 Debits Factory Wages Payable 199,000 Bal. 1/1 Credits Bal. 31/12 Finished Goods 54,400 Credit ? 154,000 Work in Process 82,000 Credits 336,000 126,000 420,000 Cost of Goods Sold ? ? ? ? 18,000 195,000 14,000 ? 870,000 8. Compute the ending balance in the Work in Process inventory account. Assume that this balance consists entirely of goods started during the year. If $32,800 of this balance is direct materials cost, how much of it is direct labour cost? Manufacturing overhead cost? Ending balance in the work in process Direct labour cost Manufacturing overhead cost Selected ledger accounts for Realm Company are given below for the just-completed year: Bal. 1/1 Debits. Bal. 31/12 Debits Debits Bal. 1/1 Direct materials. Direct labour Overhead Bal. 31/12 Raw Materials 38,000 Credits 460,000 76,000 Manufacturing Overhead 403,400 Credits Bal. 1/1 Debits Bal. 31/12 Debits Factory Wages Payable 199,000 Bal. 1/1 Credits Bal. 31/12 Finished Goods 54,400 Credit ? 154,000 Work in Process 82,000 Credits 336,000 126,000 420,000 Cost of Goods Sold ? ? ? ? 18,000 195,000 14,000 ? 870,000 8. Compute the ending balance in the Work in Process inventory account. Assume that this balance consists entirely of goods started during the year. If $32,800 of this balance is direct materials cost, how much of it is direct labour cost? Manufacturing overhead cost? Ending balance in the work in process Direct labour cost Manufacturing overhead cost

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To compute the ending balance in the Work in Process WIP inventory account we need to determine the ... View the full answer