Concord corporation has beginning work in process inventory of $164000 and total manufacturing costs of $486000. if cost of goods manufactured is $46, what is the cost of the ending work in process inventory?
a. $19.
b. $21.
c. $17.
d. $138000.

a. $190000.

Explanation:

begining WIP                                       164,000

Total cost added during the period  486,000  

total cost to be accounted for:           650,000

cost of goods manufactured            (460,000)  

ending Work In process                     190,000

The ending WIP will be the cost of the unfinished goods.

The beginning and the cost added during the period, will be the total cost to be  accounted for.

Then the cost of goods manufactured is subtracted as, these are transferred-out to finished goods.

was my answer wrong?

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

                                          hope it