At the Beginning of the Year,Swift,Inc

question 160

Multiple Choice

At the beginning of the year,Swift,Inc.'s Work-in-Process Inventory account had a balance of $123,000.During the year,$250,000 of direct materials were used in production,and $71,000 of direct labor costs were incurred.Manufacturing overhead amounted to $829,000.The cost of goods manufactured was $670,000.What is the balance in the Work-in-Process Inventory account on December 31?

• A) $1,150,000
• B) $1,340,000
• C) $670,000
• D) $603,000

---

Definitions:

Organizational Stake

An interest or share in an undertaking or organization, typically referring to how various stakeholders can affect or be affected by the organization's activities and policies.

Ideological Control

The attempt to influence or control people's beliefs, values, and behaviors through normative ideas and assumptions within an organization or society.

Values and Beliefs

Core principles and assumptions that guide behaviors and interpretations of events by individuals or cultures.

Technological Control

The use of technology to monitor, manage, or influence the behavior and performance of individuals or systems.