Wasson Company Reported the Following Year-End Information How Much Is Wasson's Total Cost of Work in Process

question 73

Multiple Choice

Wasson Company reported the following year-end information: $$\begin{array} { l r } \text { Beginning work in process inventory } & \$ 35,000 \\\text { Beginning raw materials inventory } & 18,000 \\\text { Ending work in process inventory } & 38,000 \\\text { Ending raw materials inventory } & 15,000 \\\text { Raw materials purchased } & 560,000 \\\text { Direct labor } & 210,000 \\\text { Manufacturing overhead } & 120,000\end{array}$$ How much is Wasson's total cost of work in process for the year?

• A)$925,000
• B)$893,000
• C)$890,000
• D)$928,000

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Definitions:

Dependency

A situation where one entity relies on another for support, resources, or sustenance.

Mission Statement

An official outline of the goals and principles held by a corporation, organization, or person.

Government Assistance

Financial or other support provided by government agencies to individuals, organizations, or sectors in need.

Normative Isomorphism

The process by which organizations conform to the norms and values of their environment to gain legitimacy.