If the Cost of the Beginning Work in Process Inventory

question 216

Multiple Choice

If the cost of the beginning work in process inventory is $60,000, costs of goods manufactured is $890,000, direct materials cost is $330,000, direct labor cost is $210,000, and overhead cost is
$315,000, calculate the ending work in process inventory:

• A) $350,000.
• B) $355,000.
• C) $35,000.
• D) $45,000.
• E) $25,000.

---

Definitions:

Net Worth

The total assets minus total outside liabilities of an individual or a company, representing the financial position at a given moment.

Proxy Solicitation

The process of obtaining authority to vote on behalf of shareholders.

Securities and Exchange Commission

A U.S. government agency that oversees securities transactions, activities of financial professionals, and maintains fair and orderly functioning of the securities markets.

Insider Trading

The illegal buying or selling of a publicly-traded company's stock by someone who has non-public, material information about that stock.