Work in Process for a department opens at $102,896 and takes in $599,427 of materials, $589,323 of labor and $314,601 of overhead. It transfers out $1,463,678. What balance remains?

1. The opening balance is $102,896. 2. Materials of $599,427 take the running balance to $702,323. 3. Labor of $589,323 takes it to $1,291,646, and overhead of $314,601 takes it to $1,606,247. 4. The transfer to Finished Goods credits $1,463,678. 5. The balance left is $1,606,247 minus $1,463,678, which is $142,569. 6. That agrees with valuing the 7,300 unfinished units at $19.53 each, which is the check on the whole calculation. _Source: Jonick, Principles of Managerial Accounting (UNG Press, CC BY-SA 4.0), section 3.3 Process Costing Calculations for a Department in a Manufacturing Company_