The Following Information Has Been Provided by Crosby Corporation The Beginning Balance of Work-In-Process Inventory Account Was ________

question 44

Multiple Choice

The following information has been provided by Crosby Corporation: $$\begin{array} { | l | l | } \hline \text { Direct Labor } & \$ 6000 \\\hline \text { Direct Materials Used } & 3000 \\\hline \text { Direct Materials Purchased } & 3000 \\\hline \text { Cost of Goods Manufactured } & 13,000 \\\hline \text { Ending Work-in-Process Inventory } & 1400 \\\hline \text { Corporate Headquarters' Property taxes } & 900 \\\hline \text { Manufacturing Overhead Incurred } & 400 \\\hline\end{array}$$ The beginning balance of Work-in-Process Inventory account was ________.

• A) $4500
• B) $5000
• C) $21,000
• D) $9400

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Definitions:

Bonus

An additional compensation given to employees as an incentive or reward beyond their normal salary.

Commission

A payment to a salesperson for achieving a sale, often calculated as a percentage of the sale price.

Commission Rate

The percentage or fixed amount of compensation paid to an agent or employee for facilitating or completing a sale or transaction.

Freight

The transportation of goods, cargo, or commodities by land, sea, or air.