The Following Information Was Extracted from the Accounting Records of Lowe

question 45

Multiple Choice

The following information was extracted from the accounting records of Lowe Company: $$\begin{array} { l r } \text { Direct materials purchased } & \$ 80,000 \\\text { Direct material s used } & 76,000 \\\text { Direct manufacturing labor costs } & 10,000 \\\text { Indirect manufacturing labor costs } & 12,000 \\\text { Sales sal aries } & 14,000 \\\text { Other factory expenses } & 22,000 \\\text { Selling and administrative expenses } & 20,000\end{array}$$ The finished goods inventory was $0 at the beginning of the period and $30,000 at the end of the period.The cost of goods sold is _____.

• A)$90,000
• B)$113,000
• C)$139,000
• D)$147,000

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Definitions:

Sets Aside

To put something away or to reserve it for a specific purpose or later use.

Acknowledgment Response

A reply or answer given in recognition of receiving something, often used in communication settings to confirm the receipt of a message.

Universally Understood

Refers to concepts, symbols, or messages that are recognized and interpreted the same way by people across different cultures or backgrounds.

Paraphrasing

the action of expressing the meaning of something written or spoken using different words, especially to achieve greater clarity.