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Brazel'sFurniture Company recorded the following transactions during themonth of September.
a.
Purchased $8,000 of raw materials on account
b.
Moved $10,000 of materials into production
c.
Paid various overhead costs of $6,000
d.
Paid rent for the current month of $5,000
e.
Accrued direct labor cost of $6,000 that will be paid in thefollowing month
f.
Earned unearned revenue of $9,000 in the month. FGInventory value was $4,000
g.
Finished the manufacture of furniture in the month valued at$19,000
h.
Paid various period costs in the amount of $7,000
i.
Sold furniture for $30,000. 60% for cash, the remainder oncredit. Mfg cost: $14,000.
j.
Acquired $25,000 of machinery. $5,000 cash, the remainderfinanced by the bank.
Beginning balancesare as follows:
Cash $22,000 A/P $ 8,000
A/R $ 2,000 N/P $13,000
Dir.Mat. $ 5,000 UnearnedRev. $ 9,000
WIP $ 3,000 CommonStock $45,000
FG $ 5,000 RetainedEarnings $40,000
PPE $78,000
Total $115,000 Total $115,000
What is Brazel's endingWIP balance?
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