Question

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. What is the ending work-in-process inventory for the month?
a. $10,730
b. none of these
c. $4,250
d. $12,575

Answer 1

The ending work-in-process inventory for the Monroe Company is the cost of Job 246, which amounts to $4,250.

Step-by-step explanation:

The Monroe Company is dealing with several job cards representing different stages of their inventory and production process. We need to calculate the ending work-in-process inventory for the month by analyzing which jobs were in process at the end and their respective values.

Jobs 245 and 246 were already in work-in-process at the beginning of the month, and Job 248 was started and completed during the month but not yet sent to customers. Thus, only Job 246 remains in work-in-process at the end of the month because Jobs 245 and 248 moved to finished goods, and Job 247 was sent to a customer.

Therefore, the ending work-in-process inventory is the total cost of Job 246, which is $4,250.