The Following Information Is Available from the Records of Diamond

question 99

Multiple Choice

The following information is available from the records of Diamond Cut, Inc.: $$\begin{array} { l c } \text { Direct Materials-Assembly Department } & \$ 10,000 \\\text { Direct Materials-Finishing Department } & 15,000 \\\text { Direct Labor-Assembly Department } & 11,000 \\\text { Direct Labor-Finishing Department } & 20,000 \\\text { Applied Overhead-Assembly Department } & 11,000 \\\text { Applied Overhead-Finishing Department } & 20,000 \\\text { Actual Overhead-Assembly Department } & 12,500 \\\text { Actual Overhead-Finishing Department } & 17,500\end{array}$$ What are the "total costs to account for" in the Assembly Department?

• A)$32,000
• B)$44,500
• C)$21,000
• D)$10,000

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Definitions:

In-kind Transfers

Non-cash goods and services provided by governments or organizations to individuals, such as food assistance or housing.

Food Stamps

Government-issued coupons or electronic benefits that low-income individuals use to buy food.

Housing Subsidies

Financial assistance provided by the government or private entities to help individuals or households afford housing costs, such as rent or mortgage payments.

Gini Coefficient

An index measuring the degree of income inequality in a population, ranging from 0 (perfect equality) to 1 (maximum inequality).