At the beginning of the year, Judge 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 $83,500
Direct labor incurred 190,500
Manufacturing overhead incurred 300,400
Manufacturing overhead allocated to production 297,900
Cost of jobs completed and transferred 501,700
The ending balance in the Finished Goods Inventory account is a ________.
A) debit of $509,700
B) debit of $501,700
C) debit of $8,000
D) debit of $571,900
A .
You might also like to view...
Which of the following is true of phishing?
A) It is the process of stealing personal data from a victim by convincing him to disclose information. B) It is useful in monitoring the web traffic into and out of an unsecured computer network. C) It involves the use of several thousand computers to launch malicious attacks that can cripple websites. D) It uses small pieces of code inserted into a browser that track an Internet user's activity and transmit the data to third parties.
Which of the following statements is FALSE?
A) The volatility declines as the number of stocks in a portfolio grows. B) An equally weighted portfolio is a portfolio in which the same amount is invested in each stock. C) As the number of stocks in a portfolio grows large, the variance of the portfolio is determined primarily by the average covariance among the stocks. D) When combining stocks into a portfolio that puts positive weight on each stock, unless all of the stocks are uncorrelated with the portfolio, the risk of the portfolio will be lower than the weighted average volatility of the individual stocks.