the lee company uses a job order costing system the following data were recorded for 528263

Use the following information to answer this question. The Lee Company uses a job-order costing system. The following data were recorded for June: Overhead is charged to production at 80% of direct materials cost. Jobs 235, 237, and 238 were completed during June and transferred to finished goods. Jobs 235 and 238 have been delivered to customers. Added During June—- Job Number June 1 Work in Process Inventory Direct Materials Direct Labor 235 $2,500 $600 $400 236 $1,500 $800 $1,000 237 $1,000 $1,200 $1,750 238 $800 $1,500 $2,250 2. Lee Company’s work-in-process inventory balance on June 30 was A. $9,450. B. $4,100. C. $3,940. D. $3,300. 3. The Sarbanes-Oxley Act of 2002 contains all of the following provisions except which one? A. Both the CEO and CFO must certify in writing that their company’s financial statements and accompanying disclosures fairly represent the results of operations. B. Severe penalties are established for altering or destroying documents that may eventually be used in an official proceeding. C. A CFO must be a CPA or CMA. D. The audit committee of the board of directors of a company must hire, compensate, and terminate the public accounting firm that audits the company’s financial reports. 4. When would the direct method and the step-down method of service department cost allocation result in identical allocations being made to the operating departments? A. The only time is when there is just one service department. B. That can happen only if there’s an equal amount of service departments and operating departments. C. The only time is when all costs in the service departments are fixed costs. D. That can happen if there is only one service department or, if the company has more than one service department, if all the costs in those departments are fixed costs. 5. Which of the following is not one of the five steps in the lean-thinking model discussed in the text? A. Identify the business process that delivers value. B. Organize work arrangements around the flow of the business process. C. Create a pull system that responds to customer orders. D. Automate the business process.