Selected Information Regarding a Company's Most Recent Quarter Follows (All

question 113

Multiple Choice

Selected information regarding a company's most recent quarter follows (all data in thousands) .

What was manufacturing overhead for the quarter?

• A)$260
• B)$40
• C)$500
• D)$140

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Definitions:

Process Cost System

An accounting system used to apply costs to similar products that are mass-produced in a continuous fashion.

Manufacturing Overhead

All indirect costs related to the manufacturing process, including costs for management, utilities, and equipment maintenance not directly tied to the production.

Work In Process

Inventory that includes goods partially completed; represents raw materials, labor, and overhead costs incurred in the manufacturing process.

Production Departments

Divisions within a manufacturing company responsible for different stages of the production process.