Widget Maker Manufacturing Uses Job Costing

question 107

Multiple Choice

Widget Maker Manufacturing uses job costing. In May, material requisitions were $44,600 ($39,600 of these were direct materials) , and raw material purchases were $58,700. The end of month balance in raw materials inventory was $25,000. What was the beginning raw materials inventory balance?

• A)$10,900
• B)$44,100
• C)$73,300
• D)$25,500

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Definitions:

Performance Measures

Metrics used to assess and track the efficiency, effectiveness, and productivity of an organization or its employees.

Income and Capital

Refers to the two primary ways wealth is generated: income through earnings like wages and investments, and capital through appreciating assets like real estate or stocks.

Assets Only

A focus on the asset side of the balance sheet, disregarding liabilities and equity to concentrate solely on the resources owned by a company.

Cross-tabulations

Statistical tools that summarize the distribution of two or more categorical variables in the form of a table, allowing for examination of relationships between them.