The balance in the Work in Process Inventory account on October 1 was $14,000, and the balance on October 31 was $85,400. Costs incurred during the month were as follows: direct materials, $55,820; direct labor, $58,420; and overhead, $40,000. What amount was transferred to the Finished Goods Inventory account during October?
A) $82,840
B) $154,240
C) $239,640
D) $140,240
A
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If a company makes a prior period adjustment, which of the following describes how it must be reported?
A) The adjustment is recorded in retained earnings, and previous years' financial statements presented for comparative purposes are not changed. B) The adjustment is recorded in retained earnings, and previous years' financial statements presented for comparative purposes are adjusted. C) The adjustment is reported in the current period's income statement as a separate item. D) The adjustment is recorded as a deferred asset or deferred liability and amortized using the straight-line method.
A job specification is a short paragraph that provides an overview of the nature of the job.
Answer the following statement true (T) or false (F)
Which of the following guidelines should managers follow while building a customer-responsive culture?
A. precisely defining employees' normal job requirements and ensuring they perform those actions alone B. giving service-contact employees continual training on product knowledge, listening, and other behavioral skills C. designing jobs with rigid rules and procedures that employees should stick to in order to satisfy customers D. preserving the discretion to make day-to-day decisions on job-related activities at the top level of management
What is the optimal solution to the problem described in Table 10-6?
A) X1 = 50; X2 = 0 B) X1 = 30; X2 = 20 C) X1 = 20; X2 = 30 D) X1 = 25; X2 = 25 E) X1 = 0; X2 = 25