Centore Inc

question 123

Multiple Choice

Centore Inc. has provided the following data for the month of June. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month.
Manufacturing overhead for the month was underapplied by $3,000.
The company allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the overhead applied during the month in those accounts.
-The work in process inventory at the end of June after allocation of any underapplied or overapplied manufacturing overhead for the month is closest to:

• A) $3,850
• B) $3,833
• C) $3,687
• D) $3,670

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Definitions:

Overstock

It refers to an excessive amount of inventory that a business holds, which exceeds the demand for those products.

Seafood Distributor

A business entity involved in the wholesale or retail distribution of seafood products to various outlets including markets and restaurants.

Commercial Fisher

A person or business involved in the catching and selling of fish for commercial purposes.

Voidable

Describes a legal transaction or agreement that may be nullified or rescinded by one or more parties.