In 2025, Bancroft Company was the victim of a serious data breach. Due to the data breach into their I.T. system, Bancroft was unable to determine their January 1, 2025 balances in Raw Materials Inventory, Work-in-Process Inventory and Finished Goods Inventory. Additionally, due to the breach, Bancroft could not determine the amount of actual manufacturing overhead incurred during 2025. To resolve these issues, Bancroft Company hired famed forensic accountant, Pacioli Columbo, CPA to recreate selected accounting records.
Pacioli was provided with the following information that includes the debit balances in its trial balance for the selected accounts, dated December 31, 2025:
In the process of working backwards to recreate the beginning balances for several accounts for the year, Pacioli uncovered the additional following information:
Required:
a. Determine beginning RM Inventory as of Jan. 1, 2025.
b. Calculate beginning WIP Inventory as of Jan. 1, 2025.
c. Determine beginning FG Inventory as of Jan. 1, 2025.
d. Determine the actual MOH cost incurred in 2025.

Question

In 2025, Bancroft Company was the victim of a serious data breach. Due to the data breach into their I.T. system, Bancroft was unable to determine their January 1, 2025 balances in Raw Materials Inventory, Work-in-Process Inventory and Finished Goods Inventory. Additionally, due to the breach, Bancroft could not determine the amount of actual manufacturing overhead incurred during 2025. To resolve these issues, Bancroft Company hired famed forensic accountant, Pacioli Columbo, CPA to recreate selected accounting records.
Pacioli was provided with the following information that includes the debit balances in its trial balance for the selected accounts, dated December 31, 2025:
  In the process of working backwards to recreate the beginning balances for several accounts for the year, Pacioli uncovered the additional following information:
  Required:
a. Determine beginning RM Inventory as of Jan. 1, 2025.
b. Calculate beginning WIP Inventory as of Jan. 1, 2025.
c. Determine beginning FG Inventory as of Jan. 1, 2025.
d. Determine the actual MOH cost incurred in 2025.

Quizplus · Accepted Answer

The Answer of In 2025, Bancroft Company was the victim of a serious data breach. Due to the data breach into their I.T. system, Bancroft was unable to determine their January 1, 2025 balances in Raw Materials Inventory, Work-in-Process Inventory and Finished Goods Inventory. Additionally, due to the breach, Bancroft could not determine the amount of actual manufacturing overhead incurred during 2025. To resolve these issues, Bancroft Company hired famed forensic accountant, Pacioli Columbo, CPA to recreate selected accounting records.
Pacioli was provided with the following information that includes the debit balances in its trial balance for the selected accounts, dated December 31, 2025:
  In the process of working backwards to recreate the beginning balances for several accounts for the year, Pacioli uncovered the additional following information:
  Required:
a. Determine beginning RM Inventory as of Jan. 1, 2025.
b. Calculate beginning WIP Inventory as of Jan. 1, 2025.
c. Determine beginning FG Inventory as of Jan. 1, 2025.
d. Determine the actual MOH cost incurred in 2025.

In 2025, Bancroft Company Was the Victim of a Serious