The Total Cost Assigned to Ending Work in Process Inventory

question 76

Multiple Choice

The total cost assigned to ending work in process inventory was? (Do not round intermediate calculations)

• A) $ 59,000.
• B) $75,400.
• C) $101,400.
• D) $152,800.

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Definitions:

Setup Cost

Costs incurred to prepare equipment, machinery, or production lines for manufacturing a new product or batch.

ERP

Enterprise Resource Planning, a type of software that organizations use to manage and integrate important parts of their businesses, including finance, supply chain, operations, and human resources.

Net Requirements

The total quantity needed of a particular item, considering current inventory levels and future orders but excluding any on-hand inventory.

Gross Requirements

represent the total amount of materials or products required to meet production demands, before accounting for any existing inventory.