Fred and Mary Were Married

question 34

Essay

Fred and Mary were married. Fred had executed a will prior to the marriage that left all of his property, both real and personal, to his mother. Fred later died without changing his will. Mary feels that she should be entitled to some of Fred's estate. While waiting for Fred's estate to be finalized, Mary remarries. Mary's second husband executes a will providing for Mary. Later, after Mary and her husband adopt two children, her second husband dies. Mary feels that her children should be entitled to receive something from her second husband's estate. Is Mary and, later, are her adopted children entitled to receive something under the wills?

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Definitions:

Work in Process Inventory

Goods partially completed in manufacturing but not yet ready for sale, reported as a current asset.

Manufacturing Overhead Applied

The allocation of manufacturing overhead costs to units of product based on a predetermined rate or base.

Overhead Applied

The allocation of indirect costs to produced goods or services based on predetermined rates.

Work in Process Inventory

Refers to the unfinished goods in a manufacturing process that are not yet completed but are in the stage of being turned into finished products.