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Total manufacturing costs were $1,330,000. Cost of goods manufactured was $1,296,500. Applied manufacturing overhead was 30 percent of total...

  • Total manufacturing costs were $1,330,000.
  • Cost of goods manufactured was $1,296,500.
  • Applied manufacturing overhead was 30 percent of total manufacturing costs.
  • Manufacturing overhead was applied to production at a rate of 80 percent of direct-labor cost.
  • Work-in-process inventory on January 1 was 75 percent of work-in-process inventory on December 31.

Compute the value of the company's work-in-process inventory on December 31.

 


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