Greer Company Developed the Following Data for the Current Year

question 84

Multiple Choice

Greer Company developed the following data for the current year: $\begin{array}{lr}\text { Beginning work in process inventory } & 136,000 \\\text { Direct materials used } & 208,000 \\\text { Actual overhead } & 176,000 \\\text { Overhead applied } & 184,000 \\\text { Cost of goods manufactured } & 900,000 \\\text { Total manufacturing costs } & 856,000\end{array}$ How much is Greer Company's ending work in process inventory for the year?

• A)$92000
• B)$484000
• C)$84000
• D)$372000

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Definitions:

Interest Rate

The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage.

Present Value

The current worth of a future sum of money or stream of cash flows, taking into account a specific rate of return.

Endowment

An investment fund established by a foundation that makes consistent withdrawals for charitable activities or to fund its operations, typically sourced from donations.

Interest Rate

The percentage of a loan amount charged by the lender to the borrower for the use of assets, typically expressed as an annual rate.