The Fabricating Department Started the Current Month with a Beginning

question 177

Multiple Choice

The Fabricating Department started the current month with a beginning Work in Process inventory of $10,000.During the month,it was assigned the following costs: direct materials,$76,000;direct labor,$24,000;and factory overhead,50% of direct labor cost.Also,inventory with a cost of $109,000 was transferred out of the department to the next phase in the process.The ending balance of the Work in Process Inventory account for the Fabricating Department is:

• A)$13,000.
• B)$56,000.
• C)$59,000.
• D)$110,000.
• E)$165,000.

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Definitions:

Risk and Uncertainty

A situation where the outcomes are unknown, emphasizing the unpredictability of future states.

Exchange Theory

A sociological perspective that examines social relationships based on cost-benefit analyses, where interactions are seen as transactions aiming to maximize rewards and minimize costs.

Trust

The reliance on the integrity, strength, ability, or surety of a person or thing; confidence in the predictability of someone or something's behavior.

Integrated Exchange Theory

A sociological theory that combines elements of exchange theory with systemic analyses of social interactions and networks.