At the beginning of 2011 the taylor companys work in, Ask an Expert

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At the beginning of 2011, the Taylor Company's work in process inventory account had a balance of $30,000. During 2011, $68,000 of direct materials were used in production, and $66,000 of direct labor costs were incurred. Manufacturing overhead in 2011 amounted to $90,000. The cost of goods manufactured was $220,000 in 2011. What is the balance in work in process inventory on December 31, 2011?

$24,000
$66,000
$ 6,000
$34,000
None of these is correct

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9416054

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