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{"ops":[{"insert":"June  30,  2021,  a  flash  flood  damaged  the  warehouse  and  factory  of  a  particular manufacturing  company,  completely  destroying  the  work  in  process  inventory.  There  was no  damage  to  either  the  direct  materials  or  finished  goods  inventories.  A  physical  inventory taken after the flood revealed the following costs Direct material                        $62,000Work in process -0-Finished goods 119,000The inventory on June 1, 2021, consisted of the following Direct material                $30,000Work in process 100,000Finished goods 140,000A review of the records disclosed that the gross margin historicallyapproximated 25% of sales. The  sales  for  the  first  six  months  of  2021  were  $340,000.  Direct  material  purchases  were $1150,000.  Direct  labor  costs  for  this  period  were  $80,000, and  manufacturing  overhead  has historically been 50% of direct labor hour.Required: Compute the cost of work in process destroyed on June 30, 2021\n"}]}

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