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Question
At the beginning of the current year, Grant Companys work in process inventory account had a balance of $30,000. During the year, $68,000 of direct materials were used in production, and $66,000 of direct labor costs were incurred. Factory overhead for the year amounted to $90,000. Cost of goods manufactured is $230,000. The balance in Work in Process Inventory on December 31 is
a. $24,000
b. $44,000
c. $66,000
d. $36,000
Answer
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