Accounts for XYZ Are as Follows Equity Is:
A)$13 300
B)$ - 400
C)$5300
D)$2300

question 8

Multiple Choice

Accounts for XYZ are as follows:
$$\begin{array} { l r } \text { Cash } & \$ 4000 \\\text { Overdraft } & 11000 \\\text { Creditors } & 3000 \\\text { Invertory } & 2700 \\\text { Accounts Receivable } & 8100 \\\text { Furniture } & 4500 \\\text { Loan payable } & 15000 \\\text { Car } & 12000\end{array}$$
Equity is:

• A)$13 300
• B)$ - 400
• C)$5300
• D)$2300

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Definitions:

Work in Process Inventory

Work in process (WIP) inventory represents goods that are partially completed in the manufacturing process but not yet finished.

Factory Overhead

All indirect costs associated with the production process, such as utilities, maintenance, and salaried staff, that are not directly tied to specific units of production.

Salesperson Commissions

Payments made to sales staff based on the value or volume of sales they achieve, serving as an incentive.

Nonmanufacturing Cost

Expenses not directly involved in the production of goods, such as sales, marketing, and administrative costs.