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On June 1, 2012, Dalton Production Company had beginning balances as shown in the T-accounts below. Materials inventory Work in process inventory Finished goods inventory Manufacturing overhead 10,000 20,000 25,000 41,000 During June, the following transactions took place: June 2: Issue $2,400 of direct materials and $200 of indirect materials to production. June 13: Pay $7,500 of direct factory labor cost, and $14,100 of indirect factory labor cost. Following these transactions, what was the balance in the Work in process inventory account?
$29,900$ 9,900 $44,200 $22,200 None of these is correct
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Brown Corporation, an accrual basis corporation, has taxable income of $150,000 in the current year. Included in its determination of taxable income are the following transactions.
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If the price per unit differs from the standard price per unit for direct materials, the variance is:
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