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

question 185

Multiple Choice

The following information has been provided by New Age,Inc.: $$\begin{array} { | l | r | } \hline \text { Direct Labor } & \$ 25,800 \\\hline \text { Direct Materials Used } & 10,500 \\\hline \text { Raw Materials Purchased } & 16,820 \\\hline \text { Cost of Goods Manufactured } & 48,400 \\\hline \text { Ending Work-in-Process Inventory } & 11,100 \\\hline \text { Corporate Headquarters' Property Taxes } & 2,000 \\\hline \text { Manufacturing Overhead } & 19,200 \\\hline\end{array}$$
Calculate the beginning balance of the Work-in-Process Inventory account.

• A) $92,800
• B) $59,500
• C) $4,000
• D) $44,400

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Definitions:

Celler-Kefauver Act

A United States antitrust law passed in 1950 aimed at preventing anti-competitive mergers that could create monopolies.

Vertical Mergers

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Relevant Market

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Consumer Product Safety Commission

A U.S. government agency responsible for the regulation of the sale and manufacture of consumer products to ensure their safety.