Solution-Calculate madtack work in process inventory balance

Calculate madtack work in process inventory balance

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Reference no: EM132176333

Question - Madtack Company uses a job-order costing system and began the month of March with three jobs in process. The cost of beginning work in process plus the costs added during March are shown below:

	Job #359	Job #360	Job #361
Beginning work in process	$6,200	$4,800	$5,300

COSTS ADDED DURING MARCH

Direct materials	$7,500	$5,100	$5,800
Direct labor	4,600	2,900	3,500

Madtack applies overhead to jobs at a rate of 175% of direct labor cost. During March, Madtack completed and sold Job #359. Job #360 was also completed but was not sold by the end of March. Job #361 was not completed by the end of March.

Calculate Madtack's work in process inventory balance at March 31.

Reference no: EM132176333

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Calculate madtack work in process inventory balance

Reference no: EM132176333

Reference no: EM132176333

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