Use the Information Below to Answer the Following Question(s)

question 29

Multiple Choice

Use the information below to answer the following question(s) .Father Time Clock Shop manufactures clocks on an automated assembly line.It utilizes two cost categories: direct materials and conversion costs.Each product must pass through the Assembly Department and the Testing Department.Direct materials are added at the beginning of production, while conversion costs are allocated evenly throughout production, and the company uses weighted-average costing.Data for the Assembly Department are:

-What is the total amount debited to the work-in-process account during the month of June at Father Time Clock Shop?

• A)$450,000
• B)$2,000,000
• C)$2,270,000
• D)$2,450,000
• E)$3,250,000

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Definitions:

Equilibrium Price

The price point where market supply matches market demand, leading to a balanced market condition.

Pens

Writing instruments that use ink to leave a mark on surfaces, typically used for handwriting.

Pencils

Simple writing instruments consisting of a graphite core encased in a wooden or plastic barrel used for writing or drawing.

CPM/PERT

A project management tool that combines the critical path method and the program evaluation and review technique.