Arko,Inc,Manufactures Tables

question 50

Essay

Arko,Inc.,manufactures tables.During the month of March,20X9,Arko purchased 100 table tops of wood costing $3 per piece,400 table legs of wood costing $1 per leg,100 bottles of glue costing $2.50 per bottle,and 800 nails costing $.20 per nail.All raw materials were put into production during March,20X9,and production wages related to the production of tables amounted to $300.At the end of March,20X9,ending work in process inventory had 20 table tops of wood,80 table legs of wood,20 bottles of glue,and 160 nails.
Required:
What will be the inventory balances for Arko,Inc.,on March,31,20X9? Assume that the beginning balances on March 1,20X9,in the Raw Materials Inventory account was $400,the Work in Process Inventory account was $200,and the Finished Goods Inventory was $0.

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Definitions:

Life Expectancy

The average period that a person may expect to live.

Mortality Rates

The measure of the number of deaths in a particular population, typically expressed per 1,000 individuals or as a percentage, over a specific period of time.

Ageism

Prejudice or discrimination against a person (most commonly an older person) based on age.

Preoperational Thinking

A stage in Piaget's theory of cognitive development where children from ages 2 to 7 engage in symbolic play and struggle with logic and taking the perspective of others.