The Accounts of Delphinia Dreams, Inc During the Month, Direct Materials Amounting to $21,000 and Indirect

question 158

Multiple Choice

The accounts of Delphinia Dreams, Inc. showed the following balances at the beginning of October: $$\begin{array} { | l | r | } \hline \text { Account } & { \text { Debit } } \\\hline \text { Raw Materials Inventory } & \$ 34,000 \\\hline \text { Work-in-Process Inventory } & 40,000 \\\hline \text { Finished Goods Inventory } & 50,000 \\\hline \text { Manufacturing Overhead } & 23,000 \\\hline\end{array}$$ During the month, direct materials amounting to $21,000 and indirect materials amounting to $5000 were issued to production. What is the ending balance in the Work-in-Process Inventory account following these two transactions?

• A) $40,000
• B) $61,000
• C) $10,000
• D) $28,000

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Definitions:

Individual Identity

A person's distinct sense of self that develops over time, influenced by personal experiences, society, and culture.

Typical Merger

A transaction where two or more companies combine to form a new entity, often aiming for market expansion or diversification.

Senior Management

The highest level of executives who are responsible for the strategic direction and decisions of an organization.

Being Acquired

The process in which a company is purchased by another company, resulting in the acquired company possibly becoming a subsidiary of the acquiring company.