Wasson Company Reported the Following Year-End Information How Much Is Wasson's Total Cost of Work in Process

question 128

Multiple Choice

Wasson Company reported the following year-end information: $$\begin{array} { l r } \text { Beginning work in process inventory } & \$ 35,000 \\\text { Beginning raw materials inventory } & 18,000 \\\text { Ending work in process inventory } & 38,000 \\\text { Ending raw materials inventory } & 15,000 \\\text { Raw materials purchased } & 560,000 \\\text { Direct labor } & 210,000 \\\text { Manufacturing overhead } & 120,000\end{array}$$ How much is Wasson's total cost of work in process for the year?

• A) $925,000
• B) $893,000
• C) $890,000
• D) $928,000

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Definitions:

Distribution

The process of making a product or service available for the consumer or business user who needs it, which can involve transportation, packaging, and delivery.

Ratio

A mathematical relationship that compares two numbers or quantities, indicating how many times one value contains or is contained by the other.

Frequencies

The number of times an event occurs within a specified period, often used in the context of waves or signals.

Categorical Statistics

A branch of statistics that deals with variables that can be categorized into distinct groups and analyzes the frequency and distribution of these categories.