Work in Process Inventory on December 31 of the Current

question 67

Multiple Choice

Work in process inventory on December 31 of the current year is $44,000. Work in process inventory increased by 60% during the year. Cost of goods manufactured amounts to $275,000. What are the total manufacturing costs incurred in the current year?

• A) $291,500
• B) $302,000
• C) $275,750
• D) $233,750

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Definitions:

Units Started

The number of items that have begun the manufacturing process but may not yet be completed.

Accountable Care Organization

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Health Care Reform

Efforts and policies aimed at improving and expanding access to health care services, reducing costs, and improving the quality of care.

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