Archetype Fabrication Makes Pre-Stressed Concrete Forms for the Building Industry

question 91

Multiple Choice

Archetype Fabrication makes pre-stressed concrete forms for the building industry. They use just-in-time production and accounting methodology. At the beginning of January, selected account balances are shown in the T-accounts below. During January, the following 5 transactions take place:
Use the T-accounts shown above to record the transactions, and then answer the following question:
After transaction number 3, what was the balance in the Conversion costs account?

• A)$29,000
• B)$74,000
• C)$34,000
• D)$25,000

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Definitions:

Racially Inferior

A debunked and discriminatory belief that one race is inherently less capable or valuable than another.

Written Title

This term refers to a document or certification indicating ownership or the right to hold a property, piece of land, or creative work.

Levy Taxes

The act of imposing taxes by a government or authority on its citizens or subjects.

Two-Chambered Body

A legislative structure consisting of two separate houses or chambers, typically a lower and an upper house, involved in the law-making process.