Lyster Inc

question 71

Multiple Choice

Lyster Inc.has provided the following data for the month of August.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 underapplied by $1,000.

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 August after allocation of any underapplied or overapplied manufacturing overhead for the month is closest to:

• A)$5,650
• B)$5,645
• C)$5,570
• D)$5,575

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Definitions:

Organization

An entity comprising multiple people, such as an institution or an association, that has a collective goal and is linked to an external environment.

Professional Judgment

The use of expertise and ethics in making decisions within a professional context.

Personal Morals

An individual's set of ethical principles or values guiding their behavior and decision-making.

Abortion

The medical or surgical termination of a pregnancy before the fetus can survive outside the uterus.