On January 1, Biden, Inc's Work-in-Process Inventory account had a balance of $31,900
During the year, $58,500 of direct materials was placed into production. Manufacturing wages incurred amounted to $85,000, of which $64,500 were for direct labor. Manufacturing overhead is allocated on the basis of 120% of direct labor cost. Actual manufacturing overhead was $90,300. Jobs costing $220,800 were completed during the year. What is the December 31 balance of Work-in-Process Inventory?
A) $154,900
B) $31,900
C) $232,300
D) $11,500
D .
You might also like to view...
List the eleven strategies for promoting a positive service culture.
What will be an ideal response?
Which of the following measures can be used to evaluate a company's ability to meet future debt obligations after paying income taxes and interest and making capital expenditures?
a. Earnings per share b. Net income c. Cash flow adequacy ratio d. Net increase or decrease in cash and cash equivalents
The _____________________________________________ is equal to the actuarial present value of amounts that the employer expects to pay to retired employees based on the employees' service to date and using expected future salary amounts
Fill in the blank(s) with correct word
For Max Weber most economic action rests on the best technically possible practice of quantitative calculation or accounting. What term does he use for this type of rationality?
a. Substantive rationality b. Formal rationality c. Multiple rationality d. Rationalities