Mike's Machinery Ltd. reported the cost of goods manufactured of $300,000, and the firm's year-end balance sheet reported work in process and finished goods of $50,000 and $67,000, respectively. If supplemental information disclosed raw materials used in production of $25,000, direct labour of $80,000, and manufacturing overhead of $90,000, the company's beginning work in process must have been:

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The Answer of Mike's Machinery Ltd. reported the cost of goods manufactured of $300,000, and the firm's year-end balance sheet reported work in process and finished goods of $50,000 and $67,000, respectively. If supplemental information disclosed raw materials used in production of $25,000, direct labour of $80,000, and manufacturing overhead of $90,000, the company's beginning work in process must have been: