The flynn company began the period with $15,000 worth of raw materials. during the period it purchased an additional $17,000 wor

Question

max2010maxim

12 days ago

14

The flynn company began the period with $15,000 worth of raw materials. during the period it purchased an additional $17,000 wor

th of raw materials and issued $24,000 of raw materials to work-in process for production. in addition, the company paid $8,000 for direct labor and $6,000 in manufacturing overhead costs. the beginning balance in the company's work-in process inventory account was $10,000 and it transferred $16,000 of work-in process to finished goods during the period. what was the balance in work-in process at the end of the period?

Business

2 answers:

Free_Kalibri [3.1K] · Answer 1 · 2026-03-24T07:30:29+03:00

Free_Kalibri [3.1K]12 days ago

7 0

I believe the response is 38,000.

Mariulka [3.1K] · Answer 2 · 2026-03-24T07:31:17+03:00

Answer:

The answer is: $32,000

Explanation:

Calculating work in progress incorporates the cost of direct materials along with conversion expenses (labor and manufacturing overhead). The total direct raw material costs for the period are reported as: $24,000. The conversion expenses are noted as: $8,000 for labor and $6,000 for overhead costs). The final balance for the work in progress account for this period is computed as follows:

Initial balance- WIP: $10,000

Direct raw materials: $24,000

Direct labor: $8,000

Manufacturing overhead: $6,000

Transfer to finished goods: ($16,000)

Ending balance- WIP $32,000