Winnie,Inc

question 156

Multiple Choice

Winnie,Inc.has two processes-Coloring Department and Mixing Department.The company assigned $300,000 to the 3,500 gallons of paint transferred from Mixing Department to Finished Goods Inventory.The journal entry to record completion of processing is ________.

• A) debit Work-in-Process Inventory-Mixing, $300,000; credit Finished Goods Inventory, $300,000
• B) debit Finished Goods Inventory, $300,000; credit Cost of Goods Sold, $300,000
• C) debit Cost of Goods Sold, $300,000; credit Finished Goods Inventory, $300,000
• D) debit Finished Goods Inventory, $300,000; credit Work-in-Process Inventory-Mixing, $300,000

---

Definitions:

Cost Focus

A business strategy aiming to become the lowest-cost producer in an industry for a particular segment or niche.

Generic Business Strategy

A basic framework for a business approach focusing on cost leadership, differentiation, or focus/niche to achieve competitive advantage.

Cost Focus

A business strategy that aims to become the lowest-cost producer in an industry or market segment to gain a competitive advantage.

Market Segments

Market Segments are distinct groups of consumers within a broader market who share similar characteristics and needs.