Reference: 03-07
the Following Data Are for Potras Company -The Cost of Goods Manufactured Was?
A)$114,000

question 1

Multiple Choice

Reference: 03-07
The following data are for Potras Company: $$\begin{array} { | l | l | l | } \hline & \text { Beginning } & \text { Ending } \\\hline \text { Finished goods inventory } & \$ 30,000 & \$ 40,000 \\\hline \text { Work in process inventory } & \$ 20,000 & \$ 13,000 \\\hline \text { Raw materials inventory } & \$ 21,000 & \$ 26,000 \\\hline \text { Purchases of raw materials } & \$ 71,000 & \\\hline \text { Factory depreciation } & \$ 5,000 & \\\hline \text { Other factory costs } & \$ 10,000 & \\\hline \text { Direct labour } & \$ 27,000 & \\\hline \text { Indirect labour } & \$ 6,000 & \\\hline \text { Selling expense } & \$ 12,000 & \\\hline \begin{array} { l } \text { Overapplied or underapplied } \\\text { overhead }\end{array} & - 0 - & \\\hline\end{array}$$
-The cost of goods manufactured was?

• A)$114,000.
• B)$133,000.
• C)$138,000.
• D)$121,000.

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Definitions:

Shoplifting

Shoplifting involves the unauthorized removal of goods from a store without payment.

Compensatory Damages

A money award equivalent to the actual value of injuries or damages sustained by the aggrieved party.

Tort Suit

A legal action brought by one party against another for a civil wrong that causes harm or loss, resulting in legal liability.

General Damages

In a tort case, an amount awarded to compensate individuals for the nonmonetary aspects of the harm suffered, such as pain and suffering; not available to companies.