Cost of materials purchases on account$76,000Cost of materials requisitioned (includes $3,000 of indirect) 42,000Direct labor costs incurred 62,000Manufacturing overhead costs incurred (include inDM)97,500Cost of goods manufactured 230,000Cost of goods sold 151,000Beginning raw materials inventory 14,500Beginning work in process inventory 29,700Beginning finished goods inventory 32, 800Predetermined manufacturing overhead rate (as % of DL cost) 120%What is the balance in work in process inventory at the end of the year?
29. Manufacturing overhead has an underallocated balance of $16,000; raw materials inventory balance is 150,000. The work in process inventory is 130,000; finished goods inventory is 120,000; and cost of goods sold is 180,000. After adjusting for the underallocated manufacturing overhead, what is the cost of goods sold?
30. Crockett Company had a beginning work in process inventory balance of 33,200. During the year, 57,000 of direct materials was placed into production. Direct labor was $61,500, and indirect labor was 19,500. Manufcaturing overhead is allocated at 130% 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?