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on Nov 19, 2024
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Dagostino Corporation uses a job-order costing system. The following data relate to the just completed month's operations.(1) Direct materials requisitioned for use in production, $154,000(2) Indirect materials requisitioned for use in production, $45,000(3) Direct labor wages incurred, $94,000(4) Indirect labor wages incurred, $119,000(5) Depreciation recorded on factory equipment, $44,000(6) Additional manufacturing overhead costs incurred, $83,000(7) Manufacturing overhead costs applied to jobs, $236,000(8) Cost of jobs completed and transferred from Work in Process to Finished Goods, $458,000Use the following T-accounts to answer the following question. 
The ending balance in the Work in Process account is closest to:
A) $94,000
B) $84,000
C) $74,000
D) $64,000
Job-Order Costing System
An accounting method that accumulates costs for individual units or small batches of production, often used for custom orders.
Direct Materials
Raw materials that are directly traceable to the production of a specific product.
Indirect Labor
Indirect labor involves workers who support the production process but do not directly work on the product, such as maintenance staff.
- Calculate the ending balances of Work in Process accounts.
Verified Answer
TS
Learning Objectives
- Calculate the ending balances of Work in Process accounts.