On June 1, 2014, Dalton Productions Had Beginning Balances as Shown

question 82

Multiple Choice

On June 1, 2014, Dalton Productions had beginning balances as shown in the T-accounts below. $\begin{array}{ll}\text { Materials inventory }\\\begin{array}{l|l}\hline10,000& \\\end{array}\end{array}\begin{array}{ll}\text { Work in process inventory }\\\begin{array}{l|l}\hline20,000& \\\end{array}\end{array}\begin{array}{ll}\text { Finished goods inventory }\\\begin{array}{l|l}\hline25,00& \\\end{array}\end{array}\begin{array}{ll}\text { Manufacturing overhead }\\\begin{array}{l|l}\hline41,000& \\\end{array}\end{array}$ During June, the following transactions took place: June 2: Issued $2,400 of direct materials and $200 of indirect materials to production
June 13: Paid $7,500 of direct factory labor cost and $14,100 of indirect factory labor cost
Following these transactions, what was the balance in the Manufacturing Overhead account?

• A) $50,900
• B) $55,300
• C) $44,200
• D) $65,200

Assess the impact of recession on saving functions and consumption behavior.

Distinguish between induced consumption and autonomous consumption and their roles in economic analytics.

Understand the concept of stock dividends and their effects on par value per share and total stockholders' equity.

Identify the components and classification of stock dividends and stock splits in financial statements.

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Definitions:

Business Combination

Represents a transaction or event where an acquirer obtains control of one or more businesses.

Journal Entry

A record in bookkeeping that logs the debit and credit aspects of a financial transaction.

Retained Earnings

The portion of a business's profits not distributed to shareholders, reinvested in the business instead.

Push-down Accounting

An accounting method applied in business combinations where the purchase price of an acquired entity is reflected in the financial statements of the acquired company.