Total Manufacturing Costs for the Month on the Statement of Costs

question 13

Multiple Choice

Total manufacturing costs for the month on the statement of costs of goods manufactured equals:

• A)variable costs + fixed costs + mixed costs.
• B)work in process inventory - finished goods inventory.
• C)cost of goods sold - cost of goods manufactured.
• D)cost of raw material used + direct labor cost incurred + manufacturing overhead applied.

---

Definitions:

Quasi-contractual

A legal concept where a court enforces a contract-like obligation on a party to prevent unjust enrichment, even though no actual contract exists.

Contractual Obligation

A duty or commitment that is legally binding under a contract, requiring parties to fulfill agreed terms.

Unaddressed Envelope

An envelope lacking a specific destination address, often used for general mail distribution or marketing purposes.

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise made to a second party if the latter has reasonably relied on that promise to their detriment.