Niles Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just completed year: Beginning inventories: Raw materials$47,000 Work in process 20,000 Estimated total manufacturing overhead at the beginning of the year$646,250 Estimated direct labor-hours at the beginning of the year 47,000direct labor-hours Results of operations: Raw materials purchased on account$538,000 Raw materials (all direct) requisitioned for use in production$535,000 Direct labor cost$699,000 Actual direct labor-hours 37,000direct labor-hoursManufacturing overhead: Indirect labor cost$134,000 Other manufacturing overhead costs incurred$453,000 Cost of goods manufactured$1,568,000 The ending balance in the Work in Process
inventory account is:
A. $194,750
B. $214,225
C. $154,750
D. $174,750
Answer: A
You might also like to view...
In dual-channel marketing, to avoid confusing individuals who might see messages aimed at consumers and other messages aimed at businesses promoting different benefits, companies will often engage in dual branding
Indicate whether the statement is true or false
The ________ model is any model in which a low score on one attribute can be offset by a higher score on another
A) cluster B) segmentation C) compensatory D) attribution
System documentation is designed for all of the following groups except
a. systems designers and programmers b. end users c. accountants d. all of the above require systems documentation
Which statement is NOT a useful guideline for using projecgt management (PM) applications?
a. Go with PM software that emphasizes planning. b. Avoid a PM application that will be time-consuming for team members to learn. c. Get the simplest PM software that will meet your and your team's needs. d. Identify a project's purposes, audiences, and context before getting involved with the PM software.