At the beginning of the year, Swift, Inc.'s Work-in-Process Inventory account had a balance of $ 124 comma 000. During the year, $ 250 comma 000 of direct materials were used in production, and $ 74 comma 000 of direct labor costs were incurred. Manufacturing overhead amounted to $ 829 comma 000. The cost of goods manufactured was $ 670 comma 000. What is the balance in the Work-in-Process Inventory account on December 31?
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Home » Business » At the beginning of the year, Swift, Inc.'s Work-in-Process Inventory account had a balance of $ 124 comma 000. During the year, $ 250 comma 000 of direct materials were used in production, and $ 74 comma 000 of direct labor costs were incurred.