On January 1,Feldstein Manufacturing Had a Beginning Balance in Work-In-Process

question 140

Multiple Choice

On January 1,Feldstein Manufacturing had a beginning balance in Work-in-Process Inventory of $82,400 and a beginning balance in Finished Goods Inventory of $20,500.During the year,Feldstein incurred manufacturing costs of $350,700. During the year,the following transactions occurred:
Job A-12 was completed for a total cost of $120,000 and was sold for $125,500.
Job A-13 was completed for a total cost of $200,100 and was sold for $210,800.
Job A-15 was completed for a total cost $66,000 but was not sold as of year-end.
What was the balance in Finished Goods Inventory at the end of the year?

• A) $406,600 debit balance
• B) $86,500 credit balance
• C) $86,500 debit balance
• D) $386,100 debit balance

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Definitions:

Cognitive Dissonance

The unsettling sensation experienced when a person simultaneously upholds multiple conflicting beliefs, ideas, or values.

Group Members

Individuals who belong to a defined collective or team, sharing common goals or purposes.

Informational Social Influence

The process where individuals change their opinions or behavior in response to accessing new information or knowledge from others.

Group Standard

The norms and expectations that are established and shared by a group, guiding the behavior and attitudes of its members.