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The Work in Process Inventory Account of a Manufacturing Corporation

question 58

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The Work in Process inventory account of a manufacturing Corporation shows a balance of $18,000 at the end of an accounting period. The job cost sheets of the two uncompleted jobs show charges of $6,000 and $3,000 for materials, and charges of $4,000 and $2,000 for direct labor. From this information, it appears that the Corporation is using a predetermined overhead rate, as a percentage of direct labor costs, of:


Definitions:

Umbilical Region

The umbilical region is the area surrounding the umbilicus (navel), centrally located in the abdominal region.

Hypogastric Region

The lower central part of the abdomen located beneath the umbilical region and above the pelvic brim.

Epigastric Region

The upper central region of the abdomen, located above the stomach and beneath the ribs.

Superior to Hips

A term describing a location on the body that is above the hips.

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