Altima,Inc

question 56

Multiple Choice

Altima,Inc.finished Job A40 on the last working day of the year.It utilized $300 of direct materials and $3,380 of direct labor.Altima uses a predetermined overhead allocation rate based on a percentage of direct labor costs,which has been fixed at 40%.The entry to record the completion of the job should involve a ________.

• A) debit to Finished Goods Inventory $5,032 and a credit to Materials Inventory $5,032
• B) debit to Cost of Goods Sold $5,032 and a credit to Finished Goods Inventory $5,032
• C) debit to Finished Goods Inventory $5,032 and a credit to Work-in-Process Inventory $5,032
• D) debit to Work-in-Process Inventory $5,032 and a credit to Finished Goods Inventory $5,032

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Definitions:

Empowerment Programs

Initiatives designed to give individuals greater control over their work and the decision-making process, often aimed at improving motivation, skills, and productivity.

Employee Performance

Employee performance encompasses the quality and quantity of work produced by an individual worker or team, often assessed to gauge effectiveness and efficiency.

Quantitative Research

Research that involves the collection and analysis of numerical data to gain insights into a topic.

Participative Leadership

A leadership style that encourages and values the input and involvement of team members in decision-making processes.