Given the Following Data for Glennon Company, Compute (A) Total

question 111

Short Answer

Given the following data for Glennon Company, compute (A) total manufacturing costs and (B) costs of goods manufactured: $\begin{array}{lrlr}\text { Direct materials used } & \$ 270,000 & \text { Beginning work in process } & \$ 40,000 \\\text { Direct labor } & 200,000 & \text { Ending work in process } & 20,000 \\\text { Manufacturing overhead } & 250,000 & \text { Beginning finished goods } & 50,000 \\\text { Operating expenses } & 350,000 & \text { Ending finished goods } & 30,000\end{array}$

$\begin{array}{lll}&(A)&(B)\\\text { a. } & \$ 700,000 & \$ 740,000 \\\text { b. } & \$ 720,000 & \$ 700,000 \\\text { c. } & \$ 720,000 & \$ 740,000 \\\text { d. } & \$ 740,000 & \$ 760,000\end{array}$

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Definitions:

Strike

A work stoppage caused by the mass refusal of employees to work, usually to protest against employment conditions.

Lockout

An action taken by employers to pressurize the employees or union members by shutting down the workplace, typically used during a labor dispute.

Picketing

A form of protest in which individuals congregate outside a business or workplace to express grievances or demand changes.

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A disagreement or conflict arising over the entitlement, power, or freedom claimed by one or more parties.