Use the Following Information to Answer Questions

question 34

Multiple Choice

Use the following information to answer questions
Berne Ltd.was organized on January 1, 2017, with 300,000 no par value common shares authorized.During 2017, the corporation had the following share transactions:
-The total amount in the Common Shares account at December 31, 2017 is

• A)$2,170,000.
• B)$2,016,250.
• C)$2,007,250.
• D)$1,990,000.

---

Definitions:

Conversion Cost

The combined total of direct labor and manufacturing overhead costs, representing the expenses necessary to convert raw materials into finished goods.

Direct Materials

Direct materials constitute the primary raw inputs directly incorporated into the manufacture of products, distinctly traceable to the product being produced.

Completed During Period

Refers to activities, projects, or production that have been started and finished within a specific timeframe, often relating to manufacturing or project management.

Job Order Manufacturing

A production system in which goods are manufactured based on specific customer orders, allowing for customization of products.