The Balance in the Work in Process Inventory Account on April

question 61

Multiple Choice

The balance in the Work in Process Inventory account on April 1 was $25,000, and the balance on April 30 was $22,600. Costs incurred during the month were as follows: direct materials, $41,250; direct labor, $21,300; and overhead, $32,600. What amount was transferred to the Finished Goods Inventory account for April?

• A) $97,550
• B) $2,400
• C) $88,550
• D) $120,150

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Definitions:

Current Account Deficit

A situation where a country's total imports of goods, services, and transfers exceed its total exports, indicating that it is spending more on foreign trade than it is earning.

Doubled

Increased by 100%, or made twice as large in amount or number.

Tripled

Increased or expanded to three times the original size or amount.

Canadian

Pertaining to Canada or its people, culture, or characteristics.