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At the Beginning of the Year, Judge Manufacturing Had the Following

question 161

Multiple Choice

At the beginning of the year, Judge Manufacturing had the following account balances: $At the beginning of the year, Judge Manufacturing had the following account balances: The following additional details are provided for the year: \begin{array} { | l | r | } \hline \text { irect materials placed in production } & \$ 83,100 \\ \hline \text { Direct labor incurred } & 191,100 \\ \hline \text { Manufacturing overhead incurred } & 301,900 \\ \hline \begin{array} { l } \text { Manufacturing overhead allocated to } \\ \text { production } \end{array} & 296,700 \\ \hline \text { Cost of jobs completed and transferred } & 501,800 \\ \hline \end{array} The ending balance in the Finished Goods Inventory account is a ________. A) debit of $509,800 B) debit of $501,800 C) debit of $8000 D) debit of $570,900$ $At the beginning of the year, Judge Manufacturing had the following account balances: The following additional details are provided for the year: \begin{array} { | l | r | } \hline \text { irect materials placed in production } & \$ 83,100 \\ \hline \text { Direct labor incurred } & 191,100 \\ \hline \text { Manufacturing overhead incurred } & 301,900 \\ \hline \begin{array} { l } \text { Manufacturing overhead allocated to } \\ \text { production } \end{array} & 296,700 \\ \hline \text { Cost of jobs completed and transferred } & 501,800 \\ \hline \end{array} The ending balance in the Finished Goods Inventory account is a ________. A) debit of $509,800 B) debit of $501,800 C) debit of $8000 D) debit of $570,900$ $At the beginning of the year, Judge Manufacturing had the following account balances: The following additional details are provided for the year: \begin{array} { | l | r | } \hline \text { irect materials placed in production } & \$ 83,100 \\ \hline \text { Direct labor incurred } & 191,100 \\ \hline \text { Manufacturing overhead incurred } & 301,900 \\ \hline \begin{array} { l } \text { Manufacturing overhead allocated to } \\ \text { production } \end{array} & 296,700 \\ \hline \text { Cost of jobs completed and transferred } & 501,800 \\ \hline \end{array} The ending balance in the Finished Goods Inventory account is a ________. A) debit of $509,800 B) debit of $501,800 C) debit of $8000 D) debit of $570,900$ $At the beginning of the year, Judge Manufacturing had the following account balances: The following additional details are provided for the year: \begin{array} { | l | r | } \hline \text { irect materials placed in production } & \$ 83,100 \\ \hline \text { Direct labor incurred } & 191,100 \\ \hline \text { Manufacturing overhead incurred } & 301,900 \\ \hline \begin{array} { l } \text { Manufacturing overhead allocated to } \\ \text { production } \end{array} & 296,700 \\ \hline \text { Cost of jobs completed and transferred } & 501,800 \\ \hline \end{array} The ending balance in the Finished Goods Inventory account is a ________. A) debit of $509,800 B) debit of $501,800 C) debit of $8000 D) debit of $570,900$ $At the beginning of the year, Judge Manufacturing had the following account balances: The following additional details are provided for the year: \begin{array} { | l | r | } \hline \text { irect materials placed in production } & \$ 83,100 \\ \hline \text { Direct labor incurred } & 191,100 \\ \hline \text { Manufacturing overhead incurred } & 301,900 \\ \hline \begin{array} { l } \text { Manufacturing overhead allocated to } \\ \text { production } \end{array} & 296,700 \\ \hline \text { Cost of jobs completed and transferred } & 501,800 \\ \hline \end{array} The ending balance in the Finished Goods Inventory account is a ________. A) debit of $509,800 B) debit of $501,800 C) debit of $8000 D) debit of $570,900$ The following additional details are provided for the year:
$\begin{array} { | l | r | } \hline \text { irect materials placed in production } & \$ 83,100 \\\hline \text { Direct labor incurred } & 191,100 \\\hline \text { Manufacturing overhead incurred } & 301,900 \\\hline \begin{array} { l } \text { Manufacturing overhead allocated to } \\\text { production }\end{array} & 296,700 \\\hline \text { Cost of jobs completed and transferred } & 501,800 \\\hline\end{array}$ The ending balance in the Finished Goods Inventory account is a ________.

Definitions:

Separability

The ability to isolate and measure an asset or liability from the entity that owns it, for accounting or valuation purposes.

Business Combination

A transaction or other event in which an acquirer gains control over one or more businesses, often involving mergers, acquisitions, or consolidations.

Net Present Value

A method used in capital budgeting to evaluate and compare the profitability of investments, calculating the difference between the present value of cash inflows and outflows over a period of time.

Cost

The value of the economic resources used as a result of producing or doing something.