Greer Company developed the following data for the current year: $\begin{array}{ll}
\text { Beginning work in process inventory } & \$ 102,000 \
\text { Direct materials used } & 156,000 \
\text { Actual overhead } & 132,000 \
\text { Overhead applied } & 138,000 \
\text { Cost of goods manufactured } & 675,000 \
\text { Total manufacturing costs } & 642,000
\end{array}$
- 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: $\begin{array}{ll}
\text { Beginning work in process inventory } & \$ 102,000 \
\text { Direct materials used } & 156,000 \
\text { Actual overhead } & 132,000 \
\text { Overhead applied } & 138,000 \
\text { Cost of goods manufactured } & 675,000 \
\text { Total manufacturing costs } & 642,000
\end{array}$ 
- How much is Greer Company's ending work in process inventory for the year?

Quizplus · Accepted Answer

The ending work in process inventory is $69,000. This is calculated by subtracting the cost of goods manufactured from the total manufacturing costs and adding the beginning work in process inventory.

Greer Company Developed the Following Data for the Current Year