Davy Company had a beginning work in process inventory balance of $32,000. During the year, $54,500 of direct materials was placed into production. Direct labor was $63,400, and indirect labor was $19,500. Manufacturing overhead is applied at 125% of direct labor costs. Actual manufacturing overhead was $86,500, and jobs costing $225,000 were completed during the year. What is the ending work in process inventory balance

Explanation:

Davy Company    

Ending Work in process inventory:  

Beginning Work in process inventory       $32,000

Materials placed in production      $54,500  

Direct Labor      $63,400  

Manufacturing Overhead applied      $79,250 [125% of $63,400]

Total cost of work in process  $229,150 [add up all of the above numbers]  

Less: Jobs completed during the year  $225,000

Ending Work in process inventory         $4,150

net worth is the difference between what you own and what you have. if you exceed your liabilities you have a positive net worth. if your liabilities are greater than your assets you have a negative net worth. its a snapshot of your financial situation. if you calculate your net worth you will see the end result of everything you've earned and spent as of now. net worth statements and all you asked of can you determine where you are, how to get where you want to be, if your spending   to much. honestly it can tell you a lot of things. i can go on, but you can paint the picture from here.

explanation: