Selected Accounts with Some Amounts Omitted Are as Follows

question 153

Multiple Choice

Selected accounts with some amounts omitted are as follows: If the balance of Work in Process on October 31 is $21,000, what was the amount of factory overhead applied in October?

• A)$63,300
• B)$21,300
• C)$42,300
• D)$11,300

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Definitions:

Debt-To-Equity Ratio

An evaluation measuring how shareholder equity contrasts with debt in the economic arrangement to finance a company's assets.

Equity Multiplier

A ratio of financial leverage which quantifies the fraction of a company's assets funded by the equity of its shareholders.

Net Profit Margin

A financial ratio that shows the percentage of net income to revenue, indicating the efficiency at which a company converts sales into net profit.

Gross Margin

The difference between the sales revenue and the cost of goods sold, indicating the profitability of a company's core business activities.