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Leak Enterprises LLC recorded the following transactions for the just completed month. The company had no beginning inventories.(1) Raw materials purchased for cash, $96,000(2) Direct materials requisitioned for use in production, $69,000(3) Indirect materials requisitioned for use in production, $22,000(4) Direct labor wages incurred and paid, $129,000(5) Indirect labor wages incurred and paid, $16,000(6) Additional manufacturing overhead costs incurred and paid, $121,000(7) Manufacturing overhead costs applied to jobs, $163,000(8) All of the jobs in process were completed.(9) All of the completed jobs were shipped to customers.(10) Any underapplied or overapplied overhead for the period was closed out to Cost of Goods Sold.Use the following T-accounts to answer the following question.
The ending balance in the Raw Materials account is closest to:
Management Programs
Structured plans and initiatives implemented within an organization to achieve specific operational, tactical, or strategic objectives.
Flexible Leadership Theory
A management perspective that suggests successful leaders are those who can adapt their style to the demands of different situations.
Direct Behavior
Actions that are deliberate and intentional, often aiming to influence or guide others towards achieving specific goals or outcomes.
Leadership Succession
The process of identifying and preparing new leaders to take over leadership roles within an organization.
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