Training Company Uses a Backflush-Costing System to Produce Bicycles

question 79

Multiple Choice

Training Company uses a backflush-costing system to produce bicycles.Bicycles are scheduled for production only after orders are recorded, and products are shipped to customers immediately upon completion.No finished goods inventory is maintained and product costs are applied directly to cost of goods sold.Standard cost for materials and conversion is $150 and $75, respectively. During the current month, Training Company purchased $6,000 of direct materials and incurred $3,300 in conversion cost to produce 40 units.The entry to apply cost to completed goods includes a debit to _____.

• A)Finished-Goods Inventory for $9,300
• B)Work-in-Process Inventory for $9,000
• C)Cost of Goods Sold for $9,300
• D)Cost of Goods Sold for $9,000

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Definitions:

Hippocampus

A region of the brain that is associated with the formation of memories and navigation.

Heritable Risk Factor

Any attribute, characteristic, or exposure that increases the likelihood of developing a disease or injury, which can be passed from parent to offspring through genes.

Medial Prefrontal Cortex

A part of the frontal lobe of the brain involved in decision-making, social behavior, and personality expression.

Operant Conditioning

Form of learning in which behaviors lead to consequences that either reinforce or punish the organism, leading to an increased or a decreased probability of a future response.