Centore Inc. has provided the following data for the month of June. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Work In ProcessFinished GoodsCost of Goods SoldTotalDirect materials$650 $7,590 $24,860 $33,100 Direct labor 2,180 20,700 67,800 90,680 Manufacturing overhead applied 930 7,130 22,940 31,000 Total$3,760 $35,420 $115,600 $154,780 Manufacturing overhead for the month was underapplied by $3,000.The company allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the overhead applied during the month in those
accounts. The work in process inventory at the end of June after allocation of any underapplied or overapplied manufacturing overhead for the month is closest to:
A. $3,670
B. $3,687
C. $3,833
D. $3,850
Answer: D
You might also like to view...
If a new company enters the market with a compelling product or service, marketers should
conduct a new competitive analysis, with an emphasis on investigating new target markets. Indicate whether the statement is true or false
Which statement about process batches is BEST?
A) One or more transfer batches may combine at the constrain buffer to form a process batch. B) A process batch is used to maximize setups at the bottleneck. C) A process batch must be greater than or equal to market demand. D) Process batches are used to increase lead time.
When Hunter Ceiling Fans buys electrical wire for use in producing its ceiling fans, Hunter is part of what type of market for electrical wire?
A. Resale B. Wholesale C. Customer D. Consumer E. Business
Which of the following is a qualitative method of HR forecasting?
A. Simulation models B. Estimates C. Staffing ratios D. Productivity ratios