Greer Company Developed the Following Data for the Current Year

question 120

Multiple Choice

Greer Company developed the following data for the current year: $$\begin{array} { l l } \text { Beginning work in process inventory } & \$ 136,000 \\\text { Direct materials used } & 208,000 \\\text { Actual overhead } & 176,000 \\\text { Cverhead applied } & 184,000 \\\text { Cost of goods manufactured } & 900,000 \\\text { Total manufacturing costs } & 856,000\end{array}$$ How much is Greer Company's ending work in process inventory for the year?

• A)$92,000
• B)$484,000
• C)$84,000
• D)$372,000

---

Definitions:

Available-for-Sale Investments

These are securities that are not classified as held-to-maturity or trading securities, and can be sold in the future.

Common Stock

Equity ownership in a corporation, providing voting rights and a share in the company’s profits through dividends.

Held-to-Maturity Bonds

Bonds that an issuer has the intent and ability to hold until a defined maturity date.