On June 1, 2012, Dalton Production Company Had Beginning Balances

question 158

Multiple Choice

On June 1, 2012, Dalton Production Company had beginning balances as shown in the T-accounts below. During June, the following transactions took place:
June 2: Issue $2,400 of direct materials and $200 of indirect materials to production.
Following this transaction, what was the balance in the Manufacturing overhead account?

• A)$43,600
• B)$43,400
• C)$41,200
• D)$41,000

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Definitions:

Consideration

The exchange of something of value in return for the promise or service of another party, a fundamental component of a valid contract.

Promise

A declaration or assurance by one party to another that a particular action or condition will occur or be met, potentially forming the basis of a contractual obligation.

Consideration

Something of value that is promised, given, or done that persuades a party to enter into a contract, making the contract legally enforceable.

Contract

A legally binding agreement between two or more parties that is enforceable by law.