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:

Defined Contribution Plans

Retirement plans in which employees contribute a fixed amount or percentage of their salaries, and the final benefits depend on the plan's investment performance.

Mandatory Benefits

Benefits that employers are legally required to provide to their employees, including social security, workers' compensation, and unemployment insurance.

Total Compensation

The complete pay package for employees, including all forms of money, benefits, services, and in-kind payments.

Wages

Compensation paid to employees based on the hours worked, typically expressed as an hourly rate.