On November 30, 2022, there was a fire in the factory of Blossom Manufacturing Limited, where you work as the controller. The work in process inventory was completely destroyed, but both the materials and finished goods inventories were undamaged.
Blossom uses normal job-order costing and its fiscal year end is December 31. Selected information for the periods ended October 31, 2022, and November 30, 2022, follows:
October 31,
2022
November 30,
2022
Supplies (including both direct and indirect materials)
$79,250 $73,250
Work in process inventory
58,875 ?
Finished goods inventory
59,000 63,000
Cost of goods sold (year to date)
566,000 656,000
Accounts payable (relates to materials purchased only)
17,960 53,540
Manufacturing overhead incurred (year to date)
129,500 163,300
Manufacturing overhead applied
128,700 ?
Other information for November 2022:
Cash payments to suppliers
$59,000
Payroll (including $15,370 indirect)
83,500
Indirect materials used
5,840
Over-applied overhead (during November only)
2,750
Calculate the normal cost of the work in process inventory lost during the fire.
Cost of the work in process inventory $enter the normal cost of the work in process inventory in dollars