The Following Is an Account for a Production Department,showing Its

question 129

Multiple Choice

The following is an account for a production department,showing its costs for one month:
Assume that materials are added at the beginning of the production process and that direct labor and overhead are applied uniformly.If the units in ending goods in process inventory cost $4,590,and the started and completed units cost $41,850,what was the cost of completing the units in the beginning goods in process inventory?

• A)$12,150.
• B)$ 2,160.
• C)$ 7,560.
• D)$54,000.
• E)$37,260.

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Definitions:

Aggregate Demand

The total demand for all goods and services within a particular economy at a given overall price level and in a given time period.

Social Security

A government program that provides monetary assistance to people with an inadequate or no income.

Net Taxes

The difference between taxes paid to the government and transfers received from the government.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price, where market supply and demand balance each other.