Reference: 03-07
the Following Data Are for Potras Company -The Cost of Raw Materials Used in Production Was:
A)$66,000

question 51

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 raw materials used in production was:

• A)$66,000.
• B)$76,000.
• C)$71,000.
• D)$26,000.

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Definitions:

Semantic Priming

A phenomenon in which the understanding of one word helps in the faster recognition of a subsequent word with related meaning.

Spreading Activation

A cognitive process where activating one concept in the memory network triggers the activation of related concepts, facilitating information retrieval.

Shortcut

A quicker or more direct route or method than the one usually taken.

Judgment Strategies

The cognitive processes and methods individuals use to make decisions or form evaluations about different aspects of their environment.