Work in Process Inventory on December 31, 2011, Is $44,000

question 149

Multiple Choice

Work in process inventory on December 31, 2011, is $44,000. Work in process inventory increased by 60% during 2011. Cost of goods manufactured for 2011 amounts to $275,000. What are the total manufacturing costs incurred in 2011?

• A) $291,500
• B) $302,000
• C) $275,750
• D) $233,750

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Definitions:

Ethical Decision

A choice that reflects a commitment to do what is right and fair, based on ethical principles and values.

Competing Leadership

A situation where multiple leaders or leadership styles vie for dominance within the same organization or context.

Groupthink

A psychological phenomenon that occurs within a group of people when the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.