Thing Co. uses a work order costing system. At the beginning of July, the company had the following business in progress:

job 70

$27064

During the month of July, Thing Co. assumed the following business-related costs:

	Direct Ingredients	direct workforce
job 70	3806 dollars	1008 dollars
job 80	12835	16483
job 90	8295	7612

Manufacturing overhead is charged at a rate of $3.17 per $1 direct labor cost. Jobs 70 and 90 moved into finished products during the month, but none were sold by the end of the month. Business 80 is still in progress.

What happens to the balance in Work in Process at the end of July?

Answer rating: 100% (QA)

To determine what happens to the balance in Work in Process WIP at the end of July we need to calcul... View the full answer