The Corporation's Ending Work in Process Inventory Consisted of One

question 161

Multiple Choice

The Corporation's ending work in process inventory consisted of one job, Job 42. The job had been charged with $28,000 of direct labor cost, which consisted of 2,000 actual labor-hours. The direct materials cost in Job 42 totaled:

• A)$33,000
• B)$42,000
• C)$17,000
• D)$30,000

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Definitions:

Status Quo Management

Involves maintaining current operational levels, practices, and conditions without seeking significant change or improvement.

Risk Taking

The act of engaging in activities or decisions that involve uncertainty and potential loss, with the expectation of achieving gains or benefits.

Managing Diversity

The practice of acknowledging, understanding, accepting, and valuing differences among people with respect to age, class, ethnicity, gender, physical and mental ability, race, sexual orientation, spiritual practice, and public assistance status.

Full Utilization

The practice of using all resources or capacity to the maximum extent possible, aiming for efficiency and minimizing waste.