Question - The following events took place at a manufacturing company for the current year:
(1) Purchased $105,000 in direct materials.
(2) Incurred labor costs as follows: (a) direct, $61,000 and (b) indirect, $15,600.
(3) Other manufacturing overhead was $117,000, excluding indirect labor.
(4) Transferred 75% of the materials to the manufacturing assembly line.
(5) Completed 60% of the Work-in-Process during the year.
(6) Sold 80% of the completed goods.
(7) There were no beginning inventories.
What is the value of the ending Work-in-Process Inventory?