Question: The Machining Department started the current month with a beginning goods in process inventory of $15,000. During the month, it was assigned the following costs:

The Machining Department started the current month with a beginning goods in process inventory of $15,000. During the month, it was assigned the following costs: direct materials, $82,000; direct labor, $64,000; and factory overhead, 25% of direct labor cost. Also, inventory with a cost of $150,000 was transferred out of the department to the next phase in the process. The ending balance of the Goods in Process Inventory account for the Machining Department is:

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