During the Current Period,Department a Finished and Transferred 50,000 Units

question 31

Multiple Choice

During the current period,Department A finished and transferred 50,000 units to Department B.Of the 50,000 units,20,000 were one-fifth complete at the beginning of the period and 30,000 were started and completed during the period.Also during the period,10,000 units were started but brought only to a stage of being three-fifths completed.If the FIFO method is used and $13,000 of overhead was charged to Department A during the period,how much overhead should be allocated to the ending goods in process inventory?

• A)$1,615
• B)$3,250
• C)$2,600
• D)$2,500
• E)$1,500

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Definitions:

Service Charges

Fees assessed for services provided, often by financial institutions or utilities.

NSF

Stands for "Non-Sufficient Funds," indicating a situation where an account does not have enough money to cover a check or withdrawal.

Balance Sheet

A financial statement that provides a snapshot of a company's financial position at a specific point in time, showing assets, liabilities, and equity.

Adjusted Balance

An accounting figure reached after adjusting the book balance of an account for checks and deposits in transit, fees, or errors.