Reference: 03-03
Meyers Company Had the Following Inventory Balances at the Beginning

question 53

Multiple Choice

Reference: 03-03
Meyers Company had the following inventory balances at the beginning and end of November: $$\begin{array} { | l | l | l | } \hline & \text { November 1 } & \text { November 30 } \\\hline \text { Raw Materials } & \$ 17,000 & \$ 20,000 \\\hline \text { Finished Goods } & \$ 50,000 & \$ 44,000 \\\hline \text { Work in Process } & \$ 9,000 & \$ 11,000 \\\hline\end{array}$$ During November, $39,000 in raw materials (all direct materials) were drawn from inventory and used in production. The company's predetermined overhead rate was $8 per direct labour-hour, and it paid its direct labour workers $10 per hour. A total of 300 hours of direct labour time had been expended on the jobs in the beginning Work in Process inventory account. The ending Work in Process inventory account contained $4,700 of direct materials cost. The Company incurred $28,000 of actual manufacturing overhead cost during the month and applied $26,400 in manufacturing overhead cost.
-The actual direct labour hours worked during November totalled:

• A)2,800.
• B)3,500.
• C)3,600.
• D)3,300.

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Definitions:

Downdropped

Referring to a section of the Earth's crust that has moved downward in relation to adjacent sections, often due to faulting.

Uplifted

Uplifted refers to regions of the Earth's crust that have been raised due to tectonic activities, such as earthquakes or mountain-building processes, altering the landscape and geology.

Glacier

A large, slow-moving mass of ice formed by the compaction and crystallization of snow, found in cold regions and high altitudes.

Tsunami

A large, long high sea wave caused by underwater earthquakes, volcanic eruptions, or landslides.