In the Monroe Company, the Following Job Cards Were Totaled

question 48

Multiple Choice

In the Monroe Company, the following Job cards were totaled at the end of the month:
Job 243 $5,750
Job 244 $4,980
Job 245 $3,675
Job 246 $4,250
Job 247 $5,100
Job 248 $3,800
Jobs 243 and 244 were in Finished Goods Inventory at the beginning of the month. Jobs 245 and 246 were in Work-in-process at the beginning of the month. Jobs 247 and 248 were started during the month. At the end of the month, Jobs 243 and 247 were sent to customers; jobs 245, 247, and 248 were completed and sent to finished goods.
What is the ending work-in-process inventory for the month?

• A)$10,730
• B)$4,250
• C)$12,575
• D)none of these

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Definitions:

Predatory Pricing

The practice of selling a product or service at a very low price with the intent of driving competitors out of the market or hindering their ability to compete.

Supreme Court

The highest judicial court in a country or state, typically having the final word on legal decisions.

Sherman Act

A fundamental law against monopolies in the United States, promoting competition and banning monopolistic behaviors.

Collusive Bid-Rigging

Collusive bid-rigging occurs when competing parties conspire to determine the winner of a bidding process in advance, often leading to inflated prices and undermining fair competition.