Summit Company Has Provided the Following Inventory Balances and Manufacturing

question 11

Multiple Choice

Summit Company has provided the following inventory balances and manufacturing cost data for the month of January:
$\begin{array}{|l|r|r|}\hline \text { Inventories: } & \text { January 1 } & \text { January 31 } \\\hline \text { Direct materials } & \$ 30,000 & \$ 40,000 \\\hline \text { Work in process } & 15,000 & 20,000 \\\hline \text { Finished goods } & 65,000 & 50,000 \\\hline\end{array}$
$\begin{array} { | l | r | } \hline & \text { Month of January } \\\hline \text { Cost of goods manufactured } & \$ 515,000 \\\hline \text { Manufacturing overhead applied } & 150,000 \\\hline \text { Direct materials used } & 190,000 \\\hline \text { Actual manufacturing overhead } & 144,000 \\\hline\end{array}$ Under Summit's job-order costing system, any over- or underapplied overhead is closed out to the Cost of Goods Sold account at the end of the calendar year (that is, December 31) .

-How much direct labour cost was incurred during January?

• A) $170,000.
• B) $175,000.
• C) $180,000.
• D) $186,000.

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Definitions:

Commercialized

The transformation of goods, services, or activities into commodities for the purpose of generating profit, often at the expense of cultural, ethical, or social values.

Culture of Whiteness

A set of social, cultural, and institutional practices and beliefs that reinforce and normalize the privileges and perspectives of white people.

Visible Minorities

Individuals or groups within a society who are distinguishable from the majority population based on physical or cultural characteristics, often leading to experiences of discrimination or marginalization.

Chilly Climate

A term often used in educational and workplace contexts to describe an environment that is unwelcoming and marginalizes certain groups, making it harder for them to succeed.