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

question 126

Multiple Choice

The Work-in-Process Inventory account of a manufacturing firm shows a balance of $3,000 at the end of an accounting period. The job cost sheets of two uncompleted jobs show charges of $500 and $300 for materials, and charges of $400 and $600 for direct labor. From this information, it appears that the company is using a predetermined overhead rate, as a percentage of direct labor costs, of:

• A) 83%.
• B) 120%.
• C) 40%.
• D) 300%.

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Definitions:

Positive Emotions

Feelings that are subjectively considered to be positive, such as joy, gratitude, and love, often leading to increased well-being and life satisfaction.

Organizational Effectiveness

The degree to which an organization achieves its goals and meets the needs of its stakeholders through efficient use of resources.

Negative Emotions

Feelings that are generally unpleasant or undesirable, such as sadness, anger, or fear, which can negatively impact mental well-being.

Guilt

A feeling of responsibility or remorse for some offense, crime, wrong, etc., whether real or imagined.