Reference: 03-01
Wayne Company Uses a Job-Order Costing System and Applies

question 75

Multiple Choice

Reference: 03-01
Wayne Company uses a job-order costing system and applies overhead to jobs using a predetermined overhead rate based on direct labour-hours. The company had the following inventories at the beginning and end of March: $$\begin{array}{l}\begin{array} { | l | l | l | } \hline & \text { March 1 } & \text { March 31 } \\\hline \text { Direct Materials } & \$ 36,000 & \$ 30,000 \\\hline \text { Work in Process } & 18,000 & 12,000 \\\hline \text { Finished Goods } & 54,000 & 72,000 \\\hline\end{array}\\\text { The following additional data pertain to operations during March: }\\\begin{array} { | l | l | l | } \hline \text { Direct materials purchased } & \$ 84,000 & \\\hline \text { Direct labour cost } & \$ 60,000 & \\\hline \text { Direct labour rate } & \$ 7.50 & \text { per direct labour-hour } \\\hline \text { Overhead rate } & \$ 10.00 & \text { per direct labour-hour } \\\hline\end{array}\end{array}$$
-During March total debits to Work in Process were:

• A)$230,000.
• B)$144,000.
• C)$224,000.
• D)$84,000.

Understand the importance of formal and informal elements within an organization.

Grasp the significance of experiential and structured learning in developing essential organizational skills.

Understand interdisciplinary influences on the study of organizational behavior.

Comprehend basic guidelines for skill development and self-correcting learning processes.

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Definitions:

Medical Assistants

Allied health professionals who support the work of physicians and other health professionals, usually in a clinical setting.

Employment

The condition of having paid work.

Solo Practices

Business entities where a single professional, especially in fields like law or medicine, operates independently rather than as part of a group or partnership.

Multi-provider Clinics

Healthcare facilities offering medical services from various specialists under one roof, enhancing collaborative care.