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Rediger Inc., a manufacturing Corporation, has provided the following data for the month of June. The balance in the Work in Process inventory account was
Rediger Inc., a manufacturing Corporation, has provided the following data for the month of June. The balance in the Work in Process inventory account was $22,000 at the beginning of the month and $17,000 at the end of the month. During the month, the Corporation incurred direct materials cost of $55,000 and direct labor cost of $28,000. The actual manufacturing overhead cost incurred was $53,000. The manufacturing overhead cost applied to Work in Process was $51,000. The cost of goods manufactured for June was: Select one: a. $141,000 b. $136,000 O c. $134,000 d. $139,000 Managerial Accounting reports are: Select one: a. Mandatory O b. Future oriented O c. Regulated O d. Prepared for external users Direct costs: Select one: a. DM and MOH O b.DL and MOH c. non-manufacturing costs d. can be easily traced to a particular cost object. During the month of May, direct labor cost totaled $10,000 and direct labor cost was 40% of prime cost. If total manufacturing costs during May were $86,000, the manufacturing overhead was: Select one: a. $15,000 b. $76,000 c. $25,000 d. $61,000 Which of the following is not an IMA standard: Select one: a. Comparability b. Competence O c. Credibility O d. Confidentiality
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