At the Beginning of the Year,Judge Manufacturing Had the Following $$\begin{array}{c}\text { Work-in-Process Inventory }\\\hline\begin{array} { l|l } 20,000\\\\\\\\\end{array}\end{array}$$

question 114

Multiple Choice

At the beginning of the year,Judge Manufacturing had the following account balances: $$\begin{array}{c}\text { Work-in-Process Inventory }\\\hline\begin{array} { l|l } 20,000\\\\\\\\\end{array}\end{array}$$
$$\begin{array}{c}\text {Finished Goods Inventory}\\\hline\begin{array} { l|l } 8,000\\\\\\\\\end{array}\end{array}$$
$$\begin{array}{c}\text {Manufacturing Overhead}\\\hline\begin{array} { l|l } 0\\\\\\\\\end{array}\end{array}$$
$$\begin{array}{c}\text {Cost of Goods Sold}\\\hline\begin{array} { l|l } 0\\\\\\\\\end{array}\end{array}$$
$$\begin{array}{c}\text {Sales Revenue}\\\hline\begin{array} { l|l } &0\\\\\\\\\end{array}\end{array}$$
The following additional details are provided for the year:
$$\begin{array} { | l | r | } \hline \text { Direct materials placed in production } & \$ 83,500 \\\hline \text { Direct labor incurred } & 190,500 \\\hline \text { Manufacturing overhead incurred } & 300,400 \\\hline \begin{array} { l } \text { Manufacturing overhead allocated to } \\\text { production }\end{array} & 297,900 \\\hline \text { Cost of jobs completed and transferred } & 501,700 \\\hline\end{array}$$ The ending balance in the Finished Goods Inventory account is a ________.

• A)debit of $509,700
• B)debit of $501,700
• C)debit of $8,000
• D)debit of $571,900

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Definitions:

Independent Variable

The variable that is manipulated by the researcher to examine its impact on the dependent variable in an experiment.

Dependent Variables

Variables in a study that are expected to change or vary as a result of manipulations or treatments applied to independent variables.

Factorial Designs

Experimental designs that allow investigation of the effects of multiple factors (independent variables) and their interactions on one or more outcomes (dependent variables).

Real-world Conditions

Circumstances or situations that occur in everyday life outside of controlled or laboratory settings.