Greer Company developed the following data for the current year: $$\begin{array} { l l }
\text { Beginning work in process inventory } & \$ 136,000 \
\text { Direct materials used } & 208,000 \
\text { Actual overhead } & 176,000 \
\text { Cverhead applied } & 184,000 \
\text { Cost of goods manufactured } & 900,000 \
\text { Total manufacturing costs } & 856,000
\end{array}$$ How much is Greer Company's ending work in process inventory for the year?

Question

Greer Company developed the following data for the current year: $$\begin{array} { l l } 
\text { Beginning work in process inventory } & \$ 136,000 \
\text { Direct materials used } & 208,000 \
\text { Actual overhead } & 176,000 \
\text { Cverhead applied } & 184,000 \
\text { Cost of goods manufactured } & 900,000 \
\text { Total manufacturing costs } & 856,000
\end{array}$$ How much is Greer Company's ending work in process inventory for the year?

Quizplus · Accepted Answer

The ending work in process inventory is $92,000. This is calculated by taking the total manufacturing costs of $856,000 and subtracting the cost of goods manufactured of $900,000.

Greer Company Developed the Following Data for the Current Year