Use the Information Below to Answer the Following Question(s)

question 154

Multiple Choice

Use the information below to answer the following question(s) .
Country Furniture Company manufactures furniture at its Halifax, Nova Scotia, factory. Some of its costs from the past year include:

-Direct labour costs for Country Furniture Company totaled

• A) $270,500.
• B) $115,000.
• C) $155,500.
• D) $206,000.

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Definitions:

Work In Process Inventory

The account on the balance sheet representing the cost of the incomplete goods that are still in the process of production.

Equivalent Units

A concept in cost accounting used to allocate costs to partially completed goods, converting them into the amount of finished goods units they represent.

Equivalent Units

A concept in cost accounting used to apportion costs to partially completed goods, expressed in terms of fully completed units.

Direct Labor

The payment for labor of employees directly involved in the generation of goods or the provision of services.