The Ashton Manufacturing Company operates under a job-order costing system. The data from the past month's activities is summarized as follows: Starting balance in Work in Process: $36,000 Raw materials purchased on credit: $207,000 Direct materials used in production: $161,000 Indirect materials used in production: $42,000 Direct labor costs incurred: $87,000 Indirect labor costs incurred: $101,000 Factory equipment depreciation recorded: $42,000 Additional overhead costs incurred: $57,000 Overhead costs allocated to jobs: $219,000 Cost of completed jobs transferred from Work in Process to Finished Goods: $403,000.

What is the closest value for the ending balance in the Work in Process account?

Answer rating: 100% (QA)

To find the ending balance in the Work in Process WIP account we need to calculate the total manufac... View the full answer