Question

Vaughn Manufacturing has beginning work in process inventory of $158000 and total manufacturing costs of $377000....

Vaughn Manufacturing has beginning work in process inventory of $158000 and total manufacturing costs of $377000. If cost of goods manufactured is $380000, what is the cost of the ending work in process inventory?

$161000.

$140000.

$155000.

$170000.

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Answer #1

Cost of goods manufactured = $380,000

Beginning Work in process inventory = $158,000

Total manufacturing cost = $377,000

Ending work in process inventory = ?

Cost of goods manufactured = Total manufacturing cost+Beginning Work in process inventory-Ending work in process inventory

380,000 =377,000+158,000-Ending work in process inventory

Ending work in process inventory = $155,000

The cost of the ending work in process inventory = $155,000

Third option is correct.

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