The Work-In-Process Inventory Account of a Manufacturing Firm Has a Balance

question 46

Multiple Choice

The Work-in-Process Inventory account of a manufacturing firm has a balance of $2,400 at the end of an accounting period. The job cost sheets of two uncompleted jobs show charges of $400 and $200 for materials used, and charges of $300 and $500 for direct labor used. Overhead is applied as a percentage of direct labor costs. The predetermined rate is:

• A) 41.7%.
• B) 80.0%.
• C) 125.0%.
• D) 240.0%.

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Definitions:

The Charleston

A popular dance originating in the early 20th century, particularly associated with the Jazz Age and the Roaring Twenties.

Black Bohemia

Denotes a cultural and artistic movement among African Americans, characterized by creative expression that is unconstrained by mainstream norms, often associated with early 20th-century Harlem.

Black New York

Black New York refers to the African American history, culture, and community in New York City, which has been influential in the social, cultural, and political development of the city and the nation, with historical significance in movements like the Harlem Renaissance.

Birthplace of Jazz

Often associated with New Orleans, Louisiana, where jazz music originated in the late 19th and early 20th centuries, blending African and European musical traditions.