On 1 January 1,2017,Matthew Company's Work in process inventory account had a balance of $30,000.During 2017,$58,500 of direct materials was placed into production.Manufacturing wages incurred amounted to $85,000,of which $66,000 were for direct labour.Manufacturing overhead is allocated on the basis of 122% of direct labour cost.Actual manufacturing overhead was $90,200.Jobs costing $228,400 were completed during 2017.What is the 31 December 2017 balance of Work in process inventory?

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The Answer of On 1 January 1,2017,Matthew Company's Work in process inventory account had a balance of $30,000.During 2017,$58,500 of direct materials was placed into production.Manufacturing wages incurred amounted to $85,000,of which $66,000 were for direct labour.Manufacturing overhead is allocated on the basis of 122% of direct labour cost.Actual manufacturing overhead was $90,200.Jobs costing $228,400 were completed during 2017.What is the 31 December 2017 balance of Work in process inventory?

On 1 January 1,2017,Matthew Company's Work in Process Inventory Account