If beginning work-in-process inventory is $120,000, ending work-in-process inventory is $160,000, cost of goods manufactured is $400,000 and direct materials used are $100,000, what are the conversion costs?
A) $140,000
B) $280,000
C) $300,000
D) $340,000

Question

Quizplus · Accepted Answer

SUPPORTING CALCULATIONS:
$400,000 + $160,000- $120,000 -$100,000 = $340,000
 
OR
 
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If Beginning Work-In-Process Inventory Is $120,000, Ending Work-In-Process Inventory Is