Elegant Furnishings designs and builds upscale dining room tables for individual customers. On June 1, two jobs were in process: Braun with a beginning balance of $21,700; and Prince with a beginning balance of $8,790. Overhead costs are applied by using a rate of 70% of direct labour costs. Both jobs are unfinished at the end of June. Data on July costs for both jobs are as follows: What is the total of the Work-in-Process Inventory account at June 30?
A) $28,000
B) $37,590
C) $58,490
D) $70,080
Correct Answer:
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