Use the following to answer questions:
Use the following information for Swansea Manufacturing Company for the next three questions:

-The ending Balance in Work-in-Process was:
A) $ 6,000
B) $ 60,000
C) $ 36,000
D) $ 24,000

Question

Use the following to answer questions:
Use the following information for Swansea Manufacturing Company for the next three questions:
 
-The ending Balance in Work-in-Process was:
A) $ 6,000 
B) $ 60,000 
C) $ 36,000 
D) $ 24,000

Quizplus · Accepted Answer

The ending balance in Work-in-Process (WIP) is calculated based on the beginning balance, plus any additions during the period (such as direct materials, direct labor, and manufacturing overhead), minus the cost of goods manufactured. Without specific numbers provided for these components, it's not possible to accurately calculate or confirm the ending WIP balance. However, given the choices, if C is marked as correct, it implies that based on the provided or implied data in the question (not visible here), the ending balance in Work-in-Process would be $36,000.

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