The cost of the work in process inventory in the Finishing Department at the end of May was?
A) $ 2,500.
B) $ 4,000.
C) $ 7,600.
D) $10,000.

Question

Quizplus · Accepted Answer

The cost of the work in process inventory can be calculated by subtracting the cost of goods completed from the total cost of goods accounted for. The total cost of goods accounted for in the Finishing Department for May is $17,600 ($6,000 beginning work in process + $12,600 total manufacturing costs for May). The cost of goods completed during May is $10,000 ($17,000 total cost of goods accounted for - $7,000 ending work in process in the Finishing Department). Therefore, the cost of the work in process inventory in the Finishing Department at the end of May was $7,600 ($17,600 total cost of goods accounted for - $10,000 cost of goods completed) which is choice C.

The Cost of the Work in Process Inventory in the Finishing