The Work-In-Process Inventory Account of a Manufacturing Firm Has a Balance

question 46

Multiple Choice

The Work-in-Process Inventory account of a manufacturing firm has a balance of $2,400 at the end of an accounting period. The job cost sheets of two uncompleted jobs show charges of $400 and $200 for materials used, and charges of $300 and $500 for direct labor used. Overhead is applied as a percentage of direct labor costs. The predetermined rate is:

• A) 41.7%.
• B) 80.0%.
• C) 125.0%.
• D) 240.0%.

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Definitions:

Limbic System

A complex system of nerves and networks in the brain, involved with instinct and mood. It controls the basic emotions (fear, pleasure, anger) and drives (hunger, sex, dominance, care of offspring).

Visceral Organs

Internal organs of the body, especially those within the chest (such as the heart or lungs) or abdomen (such as the liver, pancreas, and intestines).

Hypothalamus

A small region of the brain's diencephalon involved in hormone regulation and many vital processes, such as temperature control and hunger.

Retarded Growth

Delayed or slowed physical development, often due to nutritional, genetic, or hormonal factors.