Lenci Inc Has Provided the Following Data for the Month of of May

question 75

Multiple Choice

Lenci Inc. has provided the following data for the month of May. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Manufacturing overhead for the month was overapplied by $3,000.
The company allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the overhead applied during the month in those accounts.

-The work in process inventory at the end of May after allocation of any underapplied or overapplied manufacturing overhead for the month is closest to:

• A)$12,710
• B)$12,732
• C)$12,928
• D)$12,950

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Definitions:

Easily Discouraged

Individuals or subjects prone to losing motivation or hope swiftly in the face of challenges or setbacks.

Intrapreneurship

The act of behaving like an entrepreneur while working within a large organization.

Allocate Time

The process of scheduling or assigning time to tasks or activities in order to manage it effectively.

Business Management

Business management encompasses the planning, organizing, directing, and controlling of a company's resources and operations to achieve its objectives.