Compute ending work in process inventory for a manufacturer with the following information. raw materials purchased $ 124,800 direct materials used 74,300 direct labor used 55,000 total factory overhead 95,700 work in process inventory, beginning of year 26,500 cost of goods manufactured 221,800

Ending WIP = 29,700

Explanation:

Beginning WIP 26,500

Direct Materials used 74,300

Direct Labor used 55,000

Factory Overhead 95,700

Cost added during the period 225,000

Cost of Goods manufactured 221,800

26,500 + 225,000 = Ending WIP + 221,800

26,500 + 225,000 - 221,800= Ending WIP

Ending WIP = 29,700

We need the materials used in production, the purchases is not the value we need, it is irrelevant.

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