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:

Natural Reward Strategies

Methods or approaches that utilize inherent satisfactions or biological rewards to reinforce particular behaviors.

Example

A specific case used to illustrate a rule, principle, or phenomenon.

Improvisation

The art of creating something spontaneously without preparation, often used in performance arts, but applicable in business problem-solving as well.

Entrepreneurial Mindset

An approach to problem-solving that empowers people to navigate obstacles, make decisions, and take accountability for the results.