Training Company Uses a Backflush-Costing System to Account for Bicycles

question 156

Multiple Choice

Training Company uses a backflush-costing system to account for bicycles.Bicycles are scheduled for production only after orders are received and products are shipped to customers immediately upon completion.No finished goods inventory is maintained and product costs are applied directly to cost of goods sold.The standard cost for materials is $150 per bicycle.The standard cost for conversion costs is $75 per bicycle. During the current month,Training Company purchased $6,000 of direct materials and incurred $3,300 in conversion costs to produce 40 bicycles.The journal entry to apply costs to completed goods includes a debit to ________.

• A)Finished Goods Inventory for $9,300
• B)Work-in-Process Inventory for $9,000
• C)Cost of Goods Sold for $9,300
• D)Cost of Goods Sold for $9,000

Distinguish between different types of cultures, including subcultures and countercultures.

Comprehend Max Weber’s theory of rationalization and its application in organizational and daily life.

Understand the concept of consumerism and its influence on identity and social dynamics.

Identify the process of cultural lag and its impacts on society.

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Definitions:

Loss Of Temper

Refers to the reduction of hardness and strength in metal after it has been exposed to excessive heat.

Crystallization

A process where a solid forms where the atoms or molecules are highly organized into a structure known as a crystal.

Frame Rail

A structural component of a vehicle's chassis, providing the main structural support.

Tempered Steel Frame

A strong, durable frame made of steel that has undergone a heat treatment process to improve its toughness and reduce brittleness.