Leak Enterprises LLC Recorded the Following Transactions for the Just

question 150

Multiple Choice

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 adjusted cost of goods sold for the month is:

• A) $335,000
• B) $361,000
• C) $357,000
• D) $365,000

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Definitions:

Product Flexibility

The ability of a company to modify its products to meet customer preferences or market demands.

Workforce Schedule

The planning of working hours and assignments for employees to ensure operational efficiency.

Available Capacity

The maximum amount of work that an organization is capable of completing in a given period without exceeding its resources.

Demand Matching

The process of aligning supply with customer demand through inventory management and production planning.