An adjusting entry is completed ________
A) at the beginning of the accounting period
B) at the end of the accounting period
C) when the balance sheet is prepared
D) when accounts need to be balanced in the ledger
B
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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
The step in Lewin’s change model that includes reducing the forces maintaining the status quo is ______.
a. freezing b. unfreezing c. refreezing d. moving
Which of the following would most likely be a product-level cost?
A) Salaries related to purchasing and receiving B) Quality control costs C) Energy costs for factory machinery D) Research and development costs for a new product line
All of the following might be used to evaluate cash flow performance, except:
A. the trend in sales and operating expenses. B. the relationship between net income and cash flow. C. the absolute amount of cash flow. D. whether cash flow is positive or negative.