Freiling Corporation Manufactures One Product

question 112

Multiple Choice

Freiling Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company's only product is as follows:
During the year, the company assigned direct labor costs to work in process. The direct labor workers (who were paid in cash) worked 14,890 hours at an average cost of $22.80 per hour.
Assume that all transactions are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it fits on one page. The beginning balances in each of the accounts have been given. PP&E (net) stands for Property, Plant, and Equipment net of depreciation.

-When recording the direct labor costs,the Work in Process inventory account will increase (decrease) by:

• A) $318,780
• B) ($339,492)
• C) $339,492
• D) ($318,780)

Acknowledge the importance of writing skills for effective PR practice.

Understand the role of social media in PR for nonprofit organizations.

Recognize the career advantages and considerations for PR professionals in different work environments.

Identify the different purposes of PR in various organizational environments, including government, corporate, and nonprofit sectors.

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Definitions:

Delegation

The transfer of a contractual duty.

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Having a status that is recognized and enforceable by law or within the legal system.

Satisfactory Performance

In contract law, the situation that exists when either personal taste or objective standards determine the contracting parties have performed their contractual duties according to the agreement.