Ruddick Corporation Is a Manufacturer That Uses Job-Order Costing $\begin{array}{lr}\text {Cost of goods manufactured. }&\$1,486,000\\\text {Cost of goods sold (unadjusted). }&\$1,337,000\\\end{array}$

question 40

Multiple Choice

Ruddick Corporation is a manufacturer that uses job-order costing.The company has supplied the following data for the just completed year:
$\begin{array}{lr}\text {Cost of goods manufactured. }&\$1,486,000\\\text {Cost of goods sold (unadjusted) . }&\$1,337,000\\\end{array}$
The journal entry to record the transfer of completed goods from Work in Process to Finished Goods is:

• A) \(\begin{array}{lr}
• \text {Finished Goods . }&1,337,000\\
• \text {Work in Process }&&1,337,000\\
• \end{array}\)
• B) \(\begin{array}{lr}
• \text { Finished Goods.}&1,486,000\\
• \text {Work in Process }&&1,486,000\\
• \end{array}\)
• C) \(\begin{array}{lr}
• \text {Work in Process }&1,337,000\\
• \text {Finished Goods }&&1,337,000\\
• \end{array}\)
• D) \(\begin{array}{lr}
• \text {Work in Process }&1,486,000\\
• \text {Finished Goods }&&1,486,000\\
• \end{array}\)

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Definitions:

Nomothetic

Nomothetic refers to an approach in psychological and social science research that focuses on identifying general laws that apply across individuals, as opposed to studying the unique aspects of individuals.

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An approach focusing on the unique aspects of individuals, emphasizing personal experiences and subjective perceptions.

Single-Parent Families

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A family structure that consists of two adults who are in a committed relationship and are raising their children together.