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

question 84

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 Raw and in-process inventory account?

• A)$40,000
• B)$76,000
• C)$67,000
• D)$42,000

Know the basic definitions and goals of psychology.

Grasp the concept of cognitive behaviorism and its distinction from radical behaviorism.

Understand the relationship between bond prices, interest rates, and bond sensitivity.

Identify and explain various bond terms and concepts including coupon rate, yield to maturity, call protection, and indenture.

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Definitions:

Code Letter

A symbol or abbreviation used to represent an item, category, or instruction in a system of classification or identification.

FOB

Free On Board, a term used in shipping to indicate who is responsible for payment of transportation and insurance.

Freight

The charge paid for the transportation of goods, typically by sea, air, or land.

Free

Not under the control or in the power of another; able to act or be done as one wishes, or without cost or payment.