At the Beginning of 2011, the Gilbert Company's Work in Process

question 6

Multiple Choice

At the beginning of 2011, the Gilbert Company's work in process inventory account had a balance of $30,000. During 2011, $68,000 of direct materials were used in production, and $66,000 of direct labor costs were incurred. Factory overhead in 2011 amounted to $90,000. Cost of goods manufactured is $230,000 in 2011. The balance in work in process inventory on December 31, 2011, is:

• A) $24,000
• B) $44,000
• C) $66,000
• D) $36,000

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Definitions:

Social Readjustment Rating Scale

A psychological tool that measures the stress level of individuals by assigning numerical values to life events, used to predict the likelihood of illness.

Measure Stress

The process of quantifying an individual's level of stress, often using psychological scales or physiological indicators.

Life Events

Life events are significant occurrences in an individual's life which can have profound effects on their physical and psychological well-being.

Physiological Response

The body's automatic reactions that occur in response to a stimulus or change in the environment.