Stockman Inc

question 53

Multiple Choice

Stockman Inc. has provided the following data for the month of November. 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 overapplied by $1,000.
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 November after allocation of any underapplied or overapplied manufacturing overhead for the month is closest to:

• A) $17,050
• B) $17,034
• C) $16,886
• D) $16,870

---

Definitions:

Permit Approval

The process of obtaining formal authorization from authorities to engage in certain activities or operations.

Excess Fees

Charges that exceed what is deemed reasonable or customary for services or transactions, often subject to scrutiny in financial and legal contexts.

Loan Guarantor

A person or entity that agrees to be responsible for repaying a loan if the primary borrower fails to do so.

Real Estate Deals

Transactions or agreements involving the purchase, sale, or lease of land and the buildings on it.