The Work in Process Inventory Account of a Manufacturing Firm

question 36

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:

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Chlorpromazine

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