Here Is Some Basic Data for Callor Corporation -The Entry to Record the Cost of Goods Completed Would

question 200

Multiple Choice

Here is some basic data for Callor Corporation: $\begin{array}{|l|r|l|r|}\hline \text { Beginning raw materials inventory } & \$ 36,000 & \text { Beginning work in process inventory } & 64,000 \\\hline \text { Beginning finished goods inventory } & 54,000 & \text { Cost of materials purchased } & 148,000 \\\hline \text { Cost of direct materials requisitioned } & 85,000 & \text { Direct labor incurred } & 135,000 \\\hline \text { Actual manufacturing overhead } & 162,000 & \text { Completed goods } & 295,000 \\\hline \text { Cost of goods sold } & 260,000 & \begin{array}{l}\text { Manufacturing overhead rate (\% of } \\\text { direct labor) }\end{array} & 125 \% \\\hline\end{array}$

-The entry to record the cost of goods completed would be a:

• A)debit to finished goods inventory for $295,000.
• B)credit to work in process inventory for $260,000.
• C)debit to work in process inventory for $260,000.
• D)credit to finished goods inventory for $295,000.

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Definitions:

Visioning Process

A strategic planning activity involving imagining the future state of an organization or project and outlining the steps necessary to achieve it.

Leaders

Individuals who possess the ability to inspire or influence others towards the achievement of goals, often characterized by vision, initiative, and determination.

Reality

The state of things as they actually exist, as opposed to an idealistic or notional idea of them.

Stamina

Resistance to fatigue and illness; vigor, strength, and endurance to continue even in the face of difficult and trying conditions; a leadership quality required to create, advance, and sustain a vision.