Figure 5 - 6 In the Monroe Company, the following Job cards were totaled at the end of the month:
Job 243 $5,750
Job 244 $4,980
Job 245 $3,675
Job 246 $4,250
Job 247 $5,100
Job 248 $3,800
Jobs 243 and 244 were in Finished Goods Inventory at the beginning of the month. Jobs 245 and 246 were in Work-in-process at the beginning of the month. Jobs 247 and 248 were started during the month. At the end of the month, Jobs 243 and 247 were sent to customers; jobs 245, 247, and 248 were completed and sent to finished goods.
Refer to Figure 5-6. What is the ending work-in-process inventory for the month?

Question

Quizplus · Accepted Answer

The ending work-in-process inventory is the total cost of Job 246, which was in the work-in-process inventory at the beginning of the month and was completed during the month. Therefore, the ending work-in-process inventory is $4,250. Jobs 245 and 248 were also in the work-in-process inventory at the beginning of the month, but they were completed and sent to finished goods, so their costs are not part of the ending work-in-process inventory.

Figure 5 - 6 in the Monroe Company, the Following