Hamilton, Which Uses a Process-Costing System, Had a Balance in Its

question 65

Multiple Choice

Hamilton, which uses a process-costing system, had a balance in its Work-in-Process account of $68,000 on January 1. The account was charged with direct materials, direct labor, and manufacturing overhead of $450,000 throughout the year. If a review of the accounting records determined that $86,000 of goods were still in production at year-end, Hamilton should make a journal entry on December 31 that includes:

• A) a debit to Cost of Goods Sold for $432,000.
• B) a credit to Finished-Goods Inventory for $432,000.
• C) a credit to Work-in-Process Inventory for $432,000.
• D) a debit to Finished-Goods Inventory for $86,000.
• E) a credit to Work-in-Process Inventory for $86,000.

Understand the dynamics of workplace communication and its types (downward, upward, horizontal, outward).

Grasp the concept of the leader-member exchange theory and its implications in the work environment.

Recognize and analyze the impact of workplace relationships and social support systems on performance and assimilation.

Identify and understand various workplace behaviors and their categorization, such as bullying, harassment, and productivity issues.

---

Definitions:

Process Example

An illustrative case that demonstrates the steps or stages within a procedure or methodology.

Smart Phone

A mobile phone offering advanced features, typically with internet access, touchscreen interface, and the ability to run various applications.

Music Library

A collection or database of music recordings, scores, and other music-related materials, accessible for use or borrowing.

Sample Control Charts

Graphical tools used to monitor the stability of a process or its variability over time.