A service firm recorded the beginning and ending balances of Work in Process Inventory as $40,000 and $42,680 respectively. Direct Labor was $64,000, and Overhead allocated was $40,000.
What amount should be recognized as Cost of Services?

Question

A service firm recorded the beginning and ending balances of Work in Process Inventory as $40,000 and $42,680 respectively. Direct Labor was $64,000, and Overhead allocated was $40,000. 
What amount should be recognized as Cost of Services?

Quizplus · Accepted Answer

The Answer of A service firm recorded the beginning and ending balances of Work in Process Inventory as $40,000 and $42,680 respectively. Direct Labor was $64,000, and Overhead allocated was $40,000. 
What amount should be recognized as Cost of Services?

A Service Firm Recorded the Beginning and Ending Balances of Work