1. The following information has been provided by Crosby Corporation: The beginn

Question

1.

The following information has been provided by Crosby Corporation:

The beginning balance of Work-in-Process Inventory account was ________.

Select one:

A. $5000

B. $21,000

C. $4500

D. $9400

2.

Castillo Corporation, a manufacturer, reports costs for the year as follows:

How much is the total period costs for Castillo?

Select one:

A. $735,000

B. $510,000

C. $26,000

D. $700,000

Direct Labor $6000 Direct Materials Used 3000 Direct Materials Purchased 9000 Cost of Goods Manufactured 13,000 Ending Work-in-Process Inventory 1400 Corporate Headquarters' Property taxes 900 Manufacturing Overhead Incurred 400

Explanation / Answer

Calculate beginning balance of work in process :

2) Total period cost is office rent = 26000

so answer is c) $26000

Ending work in process 1400 Cost of goods manufactured 13000 Total cost work in process 14400 Total manufacturing cost (6000+3000+400) (9400) Beginning work in process 5000

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