Use the Information Below to Answer the Following Question(s)

question 78

Multiple Choice

Use the information below to answer the following question(s) .
Reynold's Dock Company manufactures boat docks on an assembly line. Its standard costing system utilizes two cost categories; direct materials and conversion costs. Each product must pass through the Assembly Department and the Finishing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production. Data for the Assembly Department for October 20x1 are:

-What is the balance in ending work-in-process inventory?

• A) $82,000
• B) $120,000
• C) $155,000
• D) $170,000
• E) $174,000

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Definitions:

Highest Denomination

The largest value in a series or system, such as currency.

Portrait Side

The aspect or profile of a subject that is depicted or photographed, typically focusing on the face or front.

Lowest Denomination

The smallest unit of currency in value within a currency system.

Numeric Amount

A quantity or value represented by numbers, often used in the context of financial or statistical data.