The Accounts of Delphinia Dreams Inc

question 143

Multiple Choice

The accounts of Delphinia Dreams Inc. showed the following balances at the beginning of October: During the month, direct materials amounting to $20,000 and indirect materials amounting to $5,000 was issued to production. What is the ending balance in the Work-in-Process Inventory account for the month of October?

• A)$40,000
• B)$60,000
• C)$20,000
• D)$25,000

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Definitions:

Great Depression

A severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States.

Economic Policy

Economic policy refers to the actions that governments take in the economic field covering taxation, government budgets, money supply, interest rates, and labor market regulations.

Monetary Policy

Actions by a central bank to control the money supply and interest rates in an economy.

Trade Restrictions

Measures imposed by governments to control the amount of goods and services that can be traded across borders.