The Following Information Has Been Provided by New Age,Inc Calculate the Beginning Balance of the Work-In-Process Inventory Account

question 106

Multiple Choice

The following information has been provided by New Age,Inc.: $$\begin{array} { | l | r | } \hline \text { Direct Labor } & \$ 25,100 \\\hline \text { Direct Materials Used } & 11,000 \\\hline \text { Raw Materials Purchased } & 16,710 \\\hline \text { Cost of Goods Manufactured } & 49,000 \\\hline \text { Ending Work-in-Process Inventory } & 11,200 \\\hline \text { Corporate Headquarters' Property Taxes } & 1,500 \\\hline \text { Manufacturing Overhead } & 19,350 \\\hline\end{array}$$ Calculate the beginning balance of the Work-in-Process Inventory account.

• A)$93,250
• B)$60,200
• C)$4,750
• D)$44,250

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Definitions:

Standardized

A process or product that has been made consistent across various conditions or applications, often through the implementation of uniform standards.

Managerial Positions

Roles within an organization tasked with supervising and leading teams or departments, making strategic decisions, and ensuring the achievement of company objectives.

Narrative Job Analysis

A qualitative approach to job analysis that involves collecting detailed job-related stories to identify competencies and tasks.

U.S. Military

The armed forces of the United States, responsible for defending the country against external threats and ensuring national security, consisting of the Army, Navy, Air Force, Marine Corps, and Coast Guard.