SurfsUp Specialty Products Has the Following Inventory Account Balances and Related

question 5

Multiple Choice

SurfsUp Specialty Products has the following inventory account balances and related manufacturing cost flow information for the month of October: $\begin{array}{lll}\text { Raw Materials, October } 1 & \$ 20,000 \\\text { Raw Materials, October } 31 & \$ 25,000 \\\text { Work in Process, October } 1 & \$ 45,000 \\\text { Work in Process, October } 31 & \$40,000 \\\text { Finished Goods, October } 1 & \$ 68,000 \\\text { Finished Goods, October } 31 & \$ 62,000\\\text {Raw materials purchased}&?\\\text {Raw materials used}&\$75,000\\\text {Direct labor incurred}&?\\\text {Manufacturing overhead incurred}&\$120,000\\\text {Cost of goods manufactured}&\$300,000\\\text {Cost of goods sold}&? \end{array}$
Raw materials purchased in October is:

• A)$5,000.
• B)$70,000.
• C)$80,000.
• D)$90,000.

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Definitions:

John B. Watson

An American psychologist who established the psychological school of behaviorism, emphasizing the study of observable behavior over internal processes.

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A prominent psychologist known for his contributions to humanistic psychology and the development of client-centered therapy.

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