Tonneau Corporation Had the Following Information Available for October 2018

question 35

Multiple Choice

Tonneau Corporation had the following information available for October 2018: $\begin{array}{lr}\text { Work in Process, October } 1 & \$ 20,000 \\\text { Materials placed into production, October } & 27,500 \\\text { Direct labor, October } & 37,500\end{array}$
Factory overhead rate is 150 percent of direct 1 abor costs.
Job cost sheets had the following bal ances:

$\begin{array}{rr}\mathrm{Job} Z 1 & \$ 32,500 \\\text { Job Z2 } & 55,000 \\\text { Job Z3 } & 35,000 \\\text { Job ZA } & 18,750\end{array}$
Jobs Z3 and Z4 were not completed at the end of December.
What is the cost of goods finished during October for Tonneau Corporation?

• A)$85,000
• B)$87,500
• C)$56,250
• D)$53,750

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Definitions:

Control Group

In an experiment, the group that does not receive the treatment or intervention being tested, serving as a comparison to evaluate the effect of the treatment.

Study Guide

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Experimental Group

The group in an experiment that receives the treatment or condition being tested, as opposed to the control group which does not.

Random Assignment

A method used in experiments to distribute participants randomly across different groups to ensure unbiased results.