At the beginning of the year, Conway Manufacturing had the following account balances
Work-in-Process Inventory
20,000
Finished Goods Inventory
8,000
Manufacturing Overhead
0
Cost of Goods Sold
0
Sales Revenue
0
The following additional details are provided for the year:
Direct materials placed in production $82,400
Direct labor incurred 190,000
Manufacturing overhead incurred 301,000
Manufacturing overhead allocated to production 295,900
Cost of jobs completed and transferred 501,000
The ending balance in the Work-in-Process Inventory account is a ________.
A) credit of $69,300
B) debit of $2,000
C) credit of $2,000
D) debit of $69,300
D .
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Which of the following is true regarding competitive rivalry?
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Jackson was charged 11% interest and paid $189 interest on a simple interest loan for 3 months from his credit union. How much did he borrow? Use ordinary interest. (Round to the nearest cent)