You have the following data:

$\begin{array}{l}
\begin{array}{lll}
\text { Cost of goods sold } \
\text { Direct labour } \
\text { Direct materials } \
\text { Cost of goods manufactured } \
\text { Work-in-process ending } \
\text { Finished goods ending } \
\text { Manufacturing overhead }
\end{array}
\begin{array}{lll}
\$ 70 \
\$ 20 \
\$ 15 \
\$ 80 \
\$ 10 \
\$ 15 \
\$ 30
\end{array}
\end{array}$
Which of the following represents the beginning work-in-process inventory?
A) $20.
B) $15.
C) $55.
D) $25.

Question

You have the following data:

$\begin{array}{l}
\begin{array}{lll}
\text { Cost of goods sold } \
\text { Direct labour } \
\text { Direct materials } \
\text { Cost of goods manufactured } \
\text { Work-in-process ending } \
\text { Finished goods ending } \
\text { Manufacturing overhead }
\end{array}
\begin{array}{lll}
\$ 70 \
\$ 20 \
\$ 15 \
\$ 80 \
\$ 10 \
\$ 15 \
\$ 30
\end{array}
\end{array}$
Which of the following represents the beginning work-in-process inventory?
A) $20.
B) $15.
C) $55.
D) $25.

Quizplus · Accepted Answer

The formula for finding the cost of goods manufactured is: beginning work-in-process inventory + total manufacturing costs – ending work-in-process inventory. Using the given data, we can plug in the values and solve for the beginning work-in-process inventory:
$80 = beginning work-in-process inventory + ($70 + $20 + $15 + $30) − $10 − $15
$80 = beginning work-in-process inventory + $135 − $25
$80 = beginning work-in-process inventory + $110
Beginning work-in-process inventory = $25. Therefore, the correct answer is D, $25.

You Have the Following Data Which of the Following Represents the Beginning Work-In-Process Inventory? A)

You Have the Following Data Which of the Following Represents the Beginning Work-In-Process Inventory?
A)