Crane Industries reported the following information for December: Beginning balance, Raw Materials Inventory...
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Accounting
Crane Industries reported the following information for December:
Beginning balance, Raw Materials Inventory
$187000
Beginning balance, Work in Process Inventory
290000
Beginning balance, Finished Goods Inventory
106000
Manufacturing overhead applied
525500
Purchases of raw materials
336000
Factory electricity
62000
Direct labor payroll
190000
Depreciation on factory equipment
218000
Insurance on factory building
45000
Indirect materials used in production
43000
Total raw materials used in production
406000
Indirect labor payroll
140000
Cost of goods manufactured
1240000
Cost of Goods Sold
1312000
What was the ending balance in Cranes Work in Process Inventory account at December 31?
$173000
$74000
$128500
$252000
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