The balance in the Work in Process Inventory account on April 1 was $26,800, and the balance on April 30 was $22,600 . Costs incurred during the month were as follows: direct materials, $41,250; direct labor, $21,300; and overhead, $32,600 . What amount was transferred to the Finished Goods Inventory account for April?
a. $99,350
b. $4,200
c. $90,350
d. $121,950
A
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A partnership has unlimited life
Indicate whether the statement is true or false
The Chuba Corporation uses a standard cost system in which manufacturing overhead is applied on the basis of standard direct labor-hours (DLHs). During December, the company actually used 7,200 direct labor-hours and made 1,900 units of finished product. The standard cost card for one unit of product includes the following data concerning manufacturing overhead:Variable overhead: 4 DLHs @ $5.25 per DLHFixed overhead: 4 DLHs @ $2.00 per DLHFor December, the company incurred $16,550 in fixed manufacturing overhead costs and recorded an $800 unfavorable volume variance.The denominator activity level in direct labor-hours used by Chuba in setting the predetermined overhead rate was:
A. 7,800 hours B. 7,200 hours C. 8,000 hours D. 7,600 hours
Change It Pharmaceuticals is lacking in employee motivation. Devon, the CEO believes that his staff just needs a little push by giving them an understanding of the importance of each of their positions to the company while allowing them to also see each of their own direct impact. Each position, from product development to sales plays a crucial role in Change It Pharmaceuticals. Devon feels that giving timely information regarding their job performance and letting them know the importance of their roles to the company will improve work performance. Devon has focused on which two characteristics of the job characteristic model?
a. Skill variety and Task identity b. Feedback and Autonomy c. Task identity and Feedback d. Feedback and Task significance
What term identifies stock that has been authorized and sold?
a. authorized and paid stock b. outstanding stock c. treasury stock d. authorized and unissued stock