Jane Industries Manufactures Plastic Toys

question 113

Multiple Choice

Jane Industries manufactures plastic toys. During October, Jane's Fabrication Department started work on 10,400 models. During the month, the company completed 11,200 models, and transferred them to the Distribution Department. The company ended the month with 2200 models in ending inventory. There were 3000 models in beginning inventory. All direct materials costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The FIFO method of process costing is being followed. Beginning work in process was 30% complete as to conversion costs, while ending work in process was 55% complete as to conversion costs.

What is the amount of direct materials cost assigned to ending work-in-process inventory at the end of October?
(Round intermediary calculations to the nearest cent.)

• A) $19,783
• B) $20,337
• C) $10,923
• D) $14,916

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Definitions:

Integrative Negotiation

A negotiation approach focused on collaborative problem-solving and finding mutually beneficial solutions.

Share

To have or use something at the same time as someone else, or to divide something between people.

Positional Bargaining

A negotiation strategy where parties hold onto fixed ideas or positions rather than seeking mutual benefits or compromises.

Trust

Trust is the reliance on the integrity, strength, ability, or character of a person or entity, crucial for cooperation and functioning in social and professional contexts.