e. What was the balance of the Work-in-Process Inventory account at the end of February? f. What was the operating profit for February? Any over- or underapplied overhead is written off to Cost of...

Extracted text: e. What was the balance of the Work-in-Process Inventory account at the end of February? f. What was the operating profit for February? Any over- or underapplied overhead is written off to Cost of Goods Sold.


Extracted text: Partially completed T-accounts and additional information for Pine Ridge Corporation for the month of February follow. Materials Inventory Work-In-Process Inventory 100,000 185,600 Finished Goods Inventory 200,400 вB (2/1) 57,500 228,400 вв (2/1) вв (2/1) 188, 300 Labor 346, 300 249,300 Cost of Goods Sold Manufacturing Overhead Control 155,500 Applied Manufacturing Overhead 141,056 Additional information for February follows: Labor wage rate was $29 per hour. During the month, sales revenue was $601,500, and selling and administrative costs were $103,500. This company has no indirect materials or supplies. The company applies manufacturing overhead on the basis of direct labor costs.