At the Beginning of 2012, Conway Manufacturing Company Had the Following

question 94

Multiple Choice

At the beginning of 2012, Conway Manufacturing Company had the following account balances: During the year, the following transactions took place:
$$\begin{array} { l r } \text { Direct materials placed in production: } & \$ 80,000 \\\text { Direct labor incurred: } & \$ 190,000 \\\text { Manufacturing overhead incurred } & \$ 300,000 \\\text { Manufacturing overhead allocated to production: } & \$ 295,000 \\\text { Jobs completed with cost of : } & \$ 500,000 \\\text { Jobs sold for total revenue of : } & \$ 750,000 \\\text { Jobs sold with cost of: } & \$ 440,000\end{array}$$ Remaining balance of Manufacturing overhead cleared to zero
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After recording all of these transactions, the ending balance in the Work in process account is a:

• A) credit of $63,000.
• B) debit of $70,000.
• C) debit of $72,000.
• D) debit of $67,000.

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Definitions:

Intercellular Spaces

Gaps or areas between individual cells within a tissue, which allow for the exchange of gases and the transfer of nutrients and waste.

Chloroplasts

Organelles found in plant cells and some algae that conduct photosynthesis, converting light energy, water, and carbon dioxide into oxygen and glucose.

Waxy Cuticle

A protective, hydrophobic layer found on the outer surface of plant leaves and stems, consisting mainly of waxes and lipids, which helps to reduce water loss.

Mesophyll

The inner tissue of a leaf, containing chloroplasts where photosynthesis takes place.